Still Ftse has not shown any developments in its movements but it is good to see that it still maintains 5800 levels. In last few days it was trying to break 5850 levels but these moves are not so encouraging. In fact if in coming week Ftse doesn’t able to break 5900 levels then I will be doubtful about it.
At past I said that Ftse has a chance of creating a the medium term bearish pattern if it breaks around 5650 level but as days are passing that probability is becoming narrowed. In fact I may change my opinion if Ftse does not drop below 5800 in coming week. Ftse is giving flat movements around some time so in this moment it is hard to predict any directional movement for sure, what I can say that breaking 5900 levels in the upside and 5800 levels in the downside are important for it.
On the basis of a longer time basis its moves in last few weeks are quite expected and I am still hopeful about the upside movement so long it maintains around 5800 ranges in the downside.
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