The FTSE 100 index encountered resistance at 5400. Low volume indicates that buyers were scarce and another test of support at 5000 is likely. We are in a primary down-trend and failure of support would signal a decline to 4400*.
* Target calculation: 5000 – ( 5600 – 5000 ) = 4400
The DAX index is starting to rally on the weekly chart, with 13-week Twiggs Money Flow indicating medium-term buying pressure. Expect a test of 6000, but again we are in a primary down-trend and another test of 5000 is likely. Failure of support would signal a decline to 4000*.
* Target calculation: 5000 – ( 6000 – 5000 ) = 4000
Any analysis on gold?
Dollar lifts gold