Just had a quick look at FTSE and noticed something that could possibly signal a reversal very soon.
We have some nice bullish divergence between the price and the RSI. It also happened back in march 07, and look what followed. I also note that the RSI broke through the oversold line back in March for the first bottom, and has already done the same for the first of the lows 2 weeks ago..
Not saying it has to happen this time, but could be time to watch your short positions I suspect.....
Chart looks like this.
Cheers
Commy![]()
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$64.50 |
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---|---|---|
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3 | 50 | 64.500 |
4 | 87 | 64.490 |
3 | 91 | 64.480 |
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Price($) | Vol. | No. |
---|---|---|
64.540 | 151 | 8 |
64.550 | 59 | 4 |
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