FTSE & DAX Ratio Table 21st Feb 2018
Huge changes in the FTSE, which considering the mess it got into in Feb this is not unexpected.
Evidently the close on Monday at 7247.66 was significant, as yesterday’s high of 7264.78 and low of 7202.14 highlights the fact this index was trapped in the very narrow R2 ratio bandwidth.
Obviously both levels are now of major importance, but the points to identify are that DR kicks in at 7150, whereas going the other way, if it can get above 7250, then it is back into its zone with no ratio at all in its way all the way up to 7350.
Range: 7200 to 7250 or 7250 to 7350
Type: On balance bullish
We last looked at the March DAX back on the 14th during the rollover and surprisingly little has changed.
Virtually nothing below the zone but above it the ratios have filled in, as this time last week they only went as high as R1 and then this was not until 13050.
However, since the close on Friday this index has not gone far from its zone, so exciting it may have been, but ultimately just treading water.
Nevertheless, it is difficult to escape from the fact there is still a lot more supportive ratio below the zone than any above it creating resistance, but being in its zone it still has plenty of scope either way.
Range: 12450 to 12550
Activity: Very good
Type: On balance only just bullish