{"id":96,"date":"2009-10-26T16:40:08","date_gmt":"2009-10-26T15:40:08","guid":{"rendered":"http:\/\/www.futurestechs.co.uk\/blog\/?p=96"},"modified":"2009-10-26T16:40:08","modified_gmt":"2009-10-26T15:40:08","slug":"technical-analysis-roundup-and-outlook-for-ftse-dow-oil-and-gold-26th-october","status":"publish","type":"post","link":"https:\/\/www.futurestechs.co.uk\/news\/2009\/10\/26\/technical-analysis-roundup-and-outlook-for-ftse-dow-oil-and-gold-26th-october\/","title":{"rendered":"Technical Analysis Roundup and Outlook for FTSE, Dow, Oil and Gold – 26th October"},"content":{"rendered":"

Weekly Roundup, 19th<\/sup> to 23rd<\/sup> October. <\/span><\/span><\/p>\n

Last week was a fairly mixed affair, particularly in Equity markets. The FTSE<\/span><\/strong>\u2019s range for the week was 5166- 5299, and Friday saw the top end of this retested just before the US Markets opened, which triggered some afternoon selling. Quite often Friday afternoon sees traders tidying up positions that they\u2019ve been holding all week, so if the market is long then you see selling on Friday afternoon as some of these longs are trimmed. <\/span><\/span><\/p>\n

As far as individual stocks are concerned Miners and Resource stocks are still amongst the leaders, whereas Bank Stocks have been having a much tougher time. The \u201cstrong\u201d banks like HSBC and Standard Bank are the safest bets for longs. We are seeing Utility Stocks finding support and starting to turn now and this is something that often happens at tops, with the real money moving into safe havens. We suggested buying United Utilities and Shire Pharma to our clients last week, which gives a clue as to our thinking. We are starting to short consumer related stocks as their charts are starting to agree that we are still in recession and things aren\u2019t really improving. <\/span><\/span><\/p>\n

The Dow<\/span><\/span><\/strong><\/span> has, as we suspected, shown a complete disregard for 10000, but we do seem to be having trouble getting through 10110-120, where we topped out each and every day last week. We are happy with our current \u201ccautiously bullish\u201d stance, and we continue to advise our clients not to get too excited about the prospects for higher prices. <\/span><\/span><\/p>\n

Gold <\/span><\/span><\/strong><\/span>continues to go sideways, frustrating all of those who have piled in And got long because we got through $1000. We always thought $1034 was more important, and we\u2019re happy to be long of this while this important technical level is holding firm. <\/span><\/span><\/p>\n

In last week\u2019s round up we talked about the change in skew we\u2019ve been forced into in Oil<\/span><\/strong>. We had been favouring the bears but then we got above $75 to change our stance. Sure enough this has continued higher, and we want to see $78 holding now to give us a launch pad for a move to $90 and beyond. <\/span><\/span><\/p>\n

Finally can I remind you it\u2019s the World Money Show at the end of the week and we\u2019re going to be exhibiting. We are running a competition to win an Apple iPod 3G, so if you can make it please come along and say hello. <\/span><\/span><\/p>\n

Click here<\/a> to register for free. <\/span><\/span><\/p>\n

To request a free trial, with no obligation, of FuturesTechs\u2019 daily analysis service please click here<\/a>. <\/span><\/span><\/p>\n

\n

Have a good week, <\/span><\/span><\/p>\n

\n

<\/span><\/span><\/p>\n

The FuturesTechs Team. <\/span><\/span><\/p>\n

<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Weekly Roundup, 19th to 23rd October.
\nLast week was a fairly mixed affair, particularly in Equity markets. The FTSE\u2019s range for the week was 5166- 5299, and Friday saw the top end of this retested just before the US Markets opened, which triggered some afternoon selling. Quite often Friday afternoon sees traders tidying up …<\/p>\n

Read more<\/a><\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[23,45,92,152,207,235,236,240,254,330,345,348,436,445,674,675,580,582],"class_list":["post-96","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-bank-stocks","tag-brent","tag-cfd","tag-dow","tag-ftse","tag-futurestech","tag-futurestechs","tag-futuretechs","tag-gold","tag-mining-stocks-analysis","tag-nymex","tag-oil","tag-spread-bet","tag-spread-betting","tag-technical-analysis","tag-trading","tag-world-money-show","tag-wti"],"_links":{"self":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/96","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/comments?post=96"}],"version-history":[{"count":0,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/96\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/media?parent=96"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/categories?post=96"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/tags?post=96"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}