IC Trades: FTSE not out of the woods yet.
Investors Chronicle - magazine and web content, June, 2009
Byline: Dominic Picarda
TRADING IDEA: The FTSE 100 has a huge obstacle in its path and probably won't get through it
The barrier facing FTSE is plain to see.
A thick, weekly Ichimoku cloud stands in its way between here and the 5100 level. In the bull market that began in March 2003, the index took until October to break through the top of its weekly cloud. By contrast, it rallied sharply in early 2002 and then failed in the upper portion of the cloud. This is the scenario we foresee this time round and is consistent with our expectation of a squeeze towards 4675.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a...
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