Bullish divergence on Madrid General Index (13-week Twiggs Money Flow) indicates buying pressure. Breakout above 720 would complete a double-bottom reversal with a target of 840*. Penetration of the descending trendline would strengthen the signal.
* Target calculation: 720 + ( 720 – 600 ) = 840
FTSE 100 broke resistance at 5750 and is headed for a test of 6000 on the weekly chart. The 13-week Twiggs Money Flow trough above zero indicates a healthy primary up-trend. Expect strong resistance at 6000 because of the number of previous peaks at this level. Breakout would offer a long-term target of 6750*.
* Target calculation: 6000 + ( 6000 – 5250 ) = 6750