(Previous chart seems to have put SPY rather than FTSE???)
The new over the last week has been awful yet FTSE has stormed up back to the previous high?
This updated chart suggests that FTSE is completing either wave (2) or B, time will tell which!
At present an ending diagonal looks to be occurring and given today is the last trading day before easter it will be interesting to see if FTSE can break the previous high and reach the 38% fib retrace at 5951 OR give up and fall?
Either way I expect a reversal soon and new lows in the weeks ahead.
The chart here is Dow Jones Industrial 60 minutes just for your information Geoff.
Cheers Paul
Geofftv1
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@Chiefstorm, Thanks Paul, I noticed this and tried again!! I think Tradingview has a glitch, maybe the virus has crept in!
Hope you are well.
Chiefstorm
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@Geofftv1, Yes I'm well thanks Geoff, hope you are too!
Should be an interesting week in the markets....seems as if this wave 2/B needs to complete soon for the bearish case.
Chiefstorm
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@Chiefstorm, Very strong downward 60 minute candle seen on 14th April 5896 - 5821 a drop of 75 points in one hour on the FTSE 100.
This could be the type of action seen at the crest of wave B or 2.
Movement down since could confirm.
Cheers Paul