FTSE and DAX today’s ratio levels and comments

To be fair we are probably being greedy expecting the perfect start in the FTSE with a test of R2.

It seems the US got there first and forced the pace here, but otherwise the direction and change in the NZ are all going as forecast.

However it is worth pointing out that getting above 7350 was a very hard fight here which took almost the entire day so it’s not all plain sailing.

But now it is back inside its NZ then there are clear skies all the way up to 7450, and of course the Y ratio that was below has now moved above the new zone, so there is still a lot of potential here.

 

Range:            7350  to  7450

Activity:          Poor

Type:              Not bearish

 

 

 

Just like London the DAX came close to testing its “very significant” level, coincidentally R2, but events in the States seems to have overtaken them.

Although both are now back inside their respective zones and both still have a considerable amount of Y ratio still above them without a bounce off these respective support levels there remains a degree of doubt over how much bullish momentum there is.

The next test will be how both now cope with their zones, especially the upper boundary which will provide their first taste of resistance.

  

Range:            12150  to  12250

Activity:          Poor

Type:              Bullish

August 23rd, 2017 by