There was further progress for the FTSE 100 to end the week, as it began what should be its final bear market rally if you are a bear, and starts to accelerate to the upside if you are a bull.
Either way there is resistance from the top of the February ascending price channel at 4,200, but above that one can probably expect a quite direct spike towards the black 200 day moving average at 4,500 plus. Either way, common sense trading will keep you right.
Only below the blue 50 day moving average at 3,913 on an end of day close stop loss basis would now even begin to suggest failure.
Trading with the Index as opposed to trading against it in these situations does help.
As far as Forex Investment Strategies were concerned the US dollar closed down 0.7% at Y98.87 and up 0.2% at $1.2999 against the euro. This would tend to dictate which Free Forex Strategies and any Free Forex Trading Strategies that you would care to try to map out. WTI lost 8 cents to $49.69 as Gold lost $5.2 to $869.8 oz.
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