Carclo SP : Hi, Lindon ---30 Jun 2014 21:25
and Everyone --- been popping in from time to time to catch up on your posts ---Just a Technically look at the current state of affairs , so bear with me (lol) ----the downtrend from last september's high was actually broken in early april @ 180 p . but the sp continued horizontally till May when it then dropped to , and followed the outside edge of the extended downtrending chanel to form a bottom @ 109/110 p ----i see a 50% retracement ( gap-fill) of the recent drop from 180 p to 130 p , giving a level of 155 p initially . The RSI stands at 50 at the moment , which is exactly where it stood when the 180 p drop occurred . This should add strength to a possible rise now as well. MACD has just about turned ( +tive ) and 50 Ema stands at about 125 p ---I'm hoping now for a rise towards the 200 EMA , which stands at about 230 p ----although that's a long way off . ---We must , however, always be aware of a drop towards £1.00 as others have posted about , but as long as the very recent lows are not breached , then my money is on a rise towards 155 p ------JMVHO but if yours differs then i wish you GL. ---