FTSE makes it and DAX perfect expiry just a week too soon, today’s levels and comment.

 

The FTSE really was fixated on R2 and one has to respect its perseverance.

First thing it attacked, getting as high as the low 60’s, then a pullback of 30-points, but it wasn’t quite finished and repeated this again early afternoon.

In the end they had to wait until the last half hour when they desperately clung on and then had to fight even harder in the auction.

That made it strike three over three days and strike three on the day.

No change in the ratios above the zone but it was hardly a convincing performance but they did it, the question is whether they can hold onto it.

 

Range:            7700  to  7750        or        7750  to  7850 

Activity:          Poor

Type:              On balance decidedly bearish

 

 

[affilinet_performance_ad size=468×60]

 

 

Again, the large activity continues in the DAX and one has to question what it was all in aid of.

This time the large additional position put on the day before has been unwound, or better still, reversed, which makes that the case for all of them.

No wonder the index has retreated back to the sanity of its zone.

So, at the start of its rollover the DAX has been down to R1 (low 12745) and up to R1 (it was 13450 and the high was 13425) and now its back in its zone, so all in all the perfect expiry apart from one minor point, which is it’s a week early.

 

Range:            13150  to  13250

Activity:          Very strong

Type:              Bearish

 

 

[affilinet_performance_ad size=468×60]

January 12th, 2018 by