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FTSE gains to prove progressively more difficult to maintainFTSE continues to strengthen, with the bounce from the 6676.56 monthly low of 4 November posting new highs above the psychological 7200 level at 7211.96. Continuation to the 7236.25 projection is highlighted, but further gains are expected to prove progressively more difficult to maintain, as studies begin to mature. In the coming weeks, profit-taking risks are highlighted, but improving background studies should limit downside tests, as investors maintain a buy-into-weakness strategy. Support is at congestion around 7000 with any break turning investors cautious once again as subsequent focus turns to the 6875.40 low of 12 December. Further slippage below 6800 will add further weight to sentiment as critical support at 6655/75 then comes into view.
TVC:UKX
by Michael_Macdonald-XATSUK
2
AUDUSD SKACAPITALIm already short on this, however, as seen on the chart I believe the outlook is still short. Only longs would be analysed on the break above the trend line. Our longer term target would be 0.7000-06900. However, as you could see we have multi trade setups. They are just their to remind me of potential entries (adding on to my trades). Once each target has been met price action must be analysed. The longer term trade setup, ideal stop would be 0.74300 to cut out fundamental manipulation. However, i would like to be out of the trade if the trend line is breached, ill look for a re entry if my trade is stopped out by a false movement. Please remember, this is just a forecast and money management is key.
Short
by SERGENAYTUG94
UK FTSE to find difficulty maintaining higher levelsUK equities are consolidating the steep rally from the June lows, as prices turn choppy below congestion around 7000. A push above here cannot be ruled out, as the Tension Indicator continues to advance, but falling stochastics are expected to limit scope, with the critical 7122~ contract high of April 2015 to provide a barrier. In the coming months, downside risks are expected to increase, as investors maintain a cautious stance, with a close below the 6654.48 low of September opening up lows down to congestion support at the 6500 retracement. Further slippage towards 6300 cannot be ruled out, however, as longer-term studies show fresh downside development. An unexpected close above 7122~ will open up the 7325, (50%) projection of the 2009-2015 rally, before fresh selling pressure appears.
TVC:UKX
by Michael_Macdonald-XATSUK
FTSE to find difficulty maintaining levels above 7000FTSE has bounced smartly from above the 6676.56 monthly low of 4 November, with prices now pressuring the 6956.70 retracement. Extension to congestion around 7000 is highlighted from rising momentum studies, but any further gains are expected to prove difficult to maintain, as the Tension Indicator, (not shown), continues to weaken and investors maintain a cautious stance. A close above 7000, however, would improve sentiment and open up highs towards the critical 7129.83 high of October. Support is raised to congestion around 6800, but a close below the 6615/76~ lows is needed to confirm continuation of the October bear trend and turn investors bearish once again.
TVC:UKX
by Michael_Macdonald-XATSUK
4
Supergroup PLC – Awaits Symmetrical triangle breakoutOn the daily chart, we see a larger symmetrical triangle formation. Off late, the stock has been restricted to a narrow range of 1520 to 1580. The daily RSI has turned flat, however, the daily MACD shows loss of bullish momentum following a sharp rally from late Oct to mid November. Hence, a bearish break from the narrow range of 1520-1580 appears likely. Prices could extend losses to 1427 (Sep 15 low) in this case. On the higher side, it is advisable to wait for a bullish break above the triangle resistance.
S
by TipTVFinance
HSBC Holdings - Time for a healthy correctionRight hand side - Daily chart Left hand side- Weekly chart The bearish divergence is quite clear. The price is sliding higher against the trend line, while the RSI is moving in a downward channel. Unless, the RSI breaks higher, there is little reason to believe the stock could rise further. Over here, the RSI is sowing a bearish divergence...while the MACD is showing the loss of bullish momentum. Overall, it appears the stock is poised for a much needed healthy correction to 600-580 levels.
LSE:HSBA
by TipTVFinance
Taylor Wimpey – Falling channel intactUK’s FTSE 100 index was boosted today by house builder Taylor Wimpey which said trading had been "strong" in the second half of the year. Technicals – Falling channel on the daily The share is trading around 150p. Prices need to close above the falling channel hurdle, which would signal continuation of the rally from the post Brexit low. On the higher side, resistance is seen at 160.02 (Oct 4 high) – 160.67 (50% Fibo of May high – June low). Given the 50-DMA and 100-DMA are sloping lower; the odds of a bullish break from the falling channel are low.
LSE:TW.
by TipTVFinance