Monday 10 January 2011

Equities & Gold...under pressure? Are the first cracks showing?

Following on from Friday's post Here is the 60 min Mch FTSE. In the 60 min chart I highlight the RL's in dotted orange over the originals. Moving down to a much smaller TF you can see the RL shifts but you also get a reaction on the original and shifted line. Price has been unable to get back up over the thick orange CL from a daily fork. To me this is a sell. Also please notice the gap on last nights openeing in Asia runinng between the close on Friday eveining & is a perfect delination by two centre lines from short term forks.










Heres Gold...also looking weak and about time too for a decent drop after its historic ascent. If we see large scale long liquidation and stops hit..the rest will be history...I am getting the feeling that sentiment or at least 'something' has changed over the last few days? Again the same shifted reaction lines as in the FTSE and not that both the original warning line and the adjusted dotted one react with price.


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