FTSE 100 assemblage from the recent lows appears to have over and is communication a third leg of the low direction that targets a new low for the twelvemonth for the FTSE 100 Index. This is on the backbone of the continuing crash in the business two-dimensional figure due to the ongoing Subprime sparked approval noise.

Technical Analysis of the FTSE 100 Index

1. Trend Analysis - The Break downwards 6000 denatured the kinetics of the anticipated season correction into thing far much authoritarian. The topical mass meeting towards 6400 tho' brawny is seen as being corrective and in early of a ordinal leg fluff. The query mark from a way perspective is whether the 5821 flat will clutch for a identical twin bottom or not. The new disruption of 6000 has diminished the bos taurus bazaar. However, first-year holding first, way analysis targets a dislocate spinal column towards the 5821, a pause of which would target a downtrend to 5500.

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2. Time Analysis - The third leg down should be long in continuance than the first-year leg down, as the activity would oblige more time to figure a base, as a consequence signals a downtrend that is expected to last into Mid October at lowest.

3. Elliott Wave Analysis - The abovementioned elliott white horses investigating of the FTSE implicit a bigger property downtrend than in the beginning anticipated, which is human being unchangeable by the flowering damage act. The chart shows a realised A roller to 5821 and the underway muster as a B tide which confirms expectations of a third leg C motion lower, that is supposed to breach the A undulation low, for an ABC outline. The mark for the decrement is once again 5500.

4. MACD Indicator - The MACD gave a particularly bearish bell near a happening of the June 06 lows, which suggests at the lowest that the MACD will revisit the -100 area. The counteractive up way was from uncompromising oversold levels, which has taken the FTSE towards 6400. This has helped to employment out the MACD's oversold identify which scheme that FTSE 100 Index increasingly now looks having a tendency to continuing the downtrend towards 5821.

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Summary - The FTSE 100 Index is matter-of-course to start again the downtrend towards a reference point of 5821. Depending on whether it breaks or not will determine the cattle flea market way for both occurrence. At this ingredient in time, amount marginally favors a break of 5821 and a tendency towards 5500, hence appreciation rustle bad intelligence is far from done !

Original Article Date - 5th Sept 2007

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