When you measured the FTSE 100 in USD terms, a definite ‘head-and-shoulder’ pattern emerges. The first shoulder peaked at 1999; the head was formed in 2007, and the final shoulder is likely to be shaped this year and next? I believe that breaking past the 8,000 would complete the ‘H-S-H’ pattern. Also, the FTSE 100 adjusted to USD terms is at its lowest for six years, whereas the normal FTSE 100 is at its lowest since 2012.
Looking at the FTSE 100 (the red line), there is another pattern emerging, that is the ‘Double-top’. Critical support levels for FTSE 100 are 5,446 and 5,219. So watch this space!
Submitted February 12, 2016 at 06:42AM by Walter7793 http://ift.tt/1SLFDnI
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