FTSE & DAX Ratio Table 31st August 2017
The FTSE just did what it needed to and is once again happily ensconced back inside its zone.
Essentially it was a quiet day as the open being the previous day’s close makes it look a lot more melodramatic, but from what we could see it opened up way inside, or above 7350.
Therefore in practical terms the daily trading range was just 30 points, and we say that because around 11:00 the FTSE slipped back to 7350 (i.e. this was the “practical” low) for about 20 minutes making sure the bottom boundary was still there and solid, which you can see on a daily chart but not from just the O, H, L & C.
Range: 7350 to 7450
Type: On balance only just not bearish
For the DAX it was just a small move overall, up 56.59, which ironically is almost the same as yesterday’s trading range, but both are hugely significant.
The open was up 81 points so most definitely above 11950.
The low, and hence the range, was only 11989 so again it was held up above 11950.
Both significant and both bullish, which is probably just as well as today the only change is 11950 which drops to R1 and makes the table above look a lot busier than it actually is as there are no other changes.
Achieving stability and now the platform is just the first step, now they have to capitalise on all this hard work.
Range: 11950 to 12150