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Discussion re: px-action around significant technical levels

Reading price charts which may give you direction in the market using established TA methodology
DiamondEcho
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Discussion re: px-action around significant technical levels

#70970

Postby DiamondEcho » July 31st, 2017, 2:46 pm

The FTSE-100 has retaken the 7400 level eight times so far today! As I recall we had a 'right old ding-dong' taking 7400 earlier this year- IIRC I termed it 'the battle of '74' or similar. And just now, 2.43pm we fiiinally got a closed hourly candle above it!
FXEmpire for today have 7400 as a short-term ceiling, and bullish above. Let's hope it's maintained into the close, as then it should flip into some form of floor.

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Re: Discussion re: px-action around significant technical levels

#71138

Postby DiamondEcho » August 1st, 2017, 9:01 am

Took 7400 again on the open, then lost it at 8.29am. But now 30mins later we appear to be well clear at 7433. Here's to a closed hourly candle above, PLUS a close today above.

Famous last words perhaps...

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Re: Discussion re: px-action around significant technical levels

#71156

Postby DiamondEcho » August 1st, 2017, 9:37 am

To mangle a phrase 'Cometh the hour, cometh the candle' - now to see if we can hold it into the close 8-)

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Re: Discussion re: px-action around significant technical levels

#71823

Postby DiamondEcho » August 3rd, 2017, 6:02 pm

Plus a break-out above the 'bullish falling-wedge' [IG this morning] at 7443, and convicingly ending 30+ pts higher than that.

7500/+ here we come?

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Re: Discussion re: px-action around significant technical levels

#74130

Postby Jonetc15 » August 13th, 2017, 4:39 pm

DiamondEcho wrote:Plus a break-out above the 'bullish falling-wedge' [IG this morning] at 7443, and convicingly ending 30+ pts higher than that.

7500/+ here we come?


Perhaps your question is answered - at least short-term - by the FTSE 100 closing well below the 50 dma: http://bigcharts.marketwatch.com/advcha ... e&state=11. The 200 dma is at 7243 - e.g. http://stockcharts.com/h-sc/ui?s=%24FTSE, which shows the RSI at 39 (so nowhere oversold) and the MACD having a bearish divergence.

Jon

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Re: Discussion re: px-action around significant technical levels

#74306

Postby Jonetc15 » August 14th, 2017, 11:27 am

From IG: "The FTSE 100 has been regaining ground this morning, following on from a sharp deterioration in the week just gone. The 7341 level represents the neckline of a double bottom, where an hourly close above that level would provide a bullish outlook for the day.
Until then, the downtrend remains intactt
" - https://www.ig.com/uk/indices-news/2017 ... -dow-39487.

With the FTSE 100 at 7348 (as I type) I'm watching the 50 dma, currently 7427 for possible resistance or a break above it.

Jon

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Re: Discussion re: px-action around significant technical levels

#74800

Postby DiamondEcho » August 16th, 2017, 11:07 am

There is a gap above, a gap-higher from Wednesday 9th at circa 7460>7496.

IG this morning have:
7600
7553
7448
7424 50dSMA
7421 Post-June Descending Trend-line
[7383.85 open this morning]
7300 decent/established support
7282 a close below 'to radically change outlook'.

Hesitation this morning at c7443.8, otherwise looking good so far. Perhaps if the US opens solidly it'll lift us through x48/x53. Once into the gap IFAIUI we should cut through it and get popped through on the upside. This pm and tomorrow could give us time, what with the summer-lull and 'risk off Friday' etc. It could be that we're pausing prior to the minutes of the last US Fed meeting due at 7pm-UK tonight.


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