FTSE Futures Weekly Price Action & Technical Analysis as on 12-MAR-2017
Sat Mar 11 2017
Gil Ecker (187 articles)

FTSE Futures Weekly Price Action & Technical Analysis as on 12-MAR-2017

After the big bullish Marabuzo two weeks ago, there came another consolidation week, yielding an inside Weekly bar.

Last Thursday ended as a bullish pinbar on sloping 20 SMA, but that bar closed relatively weak, below the Daily 8 EMA. Last Friday changed some of the atmosphere, but didn’t manage to close strongly. Another Daily bar like the one we had on last Friday, that closes above the 8 EMA can signal the next bullish move towards the next targets.

The market is still in a bullish setup to reach 7470, due to a bullish Weekly pinbar on sloping 8 EMA as well as the same kind of setup on the Semiannual – the first half of 2016 ended as a bullish Semiannual pinbar on sloping 8 EMA pointing approximately at the same target, 7500.

Higher target is the Quarterly bullish pinbar on sloping 8 EMA of the previous quarter, pointing at the 7600 level area. this Quarterly bar encapsulates a Follow through model on the Monthly timeframe  

On the other hand, taking out the inner Weekly Low at 7263.6 without taking out the all time High at 7394.6 is a clear sign of weakness that can yield a move to reach the levels around 7145.


FTSE100, Daily, Weekly and Monthly timeframes (at the courtesy of prorealtime.com)



Disclaimer: Anyone who takes action by this article does it at his own risk and understanding, and the writer won’t have any liability for any damages caused by this action.


Gil Ecker

Gil Ecker

Gil Ecker is Charting & Technical Analyst. He has more than 10 years experience of Global Stock Markets.