Footsie Fortunes

By Quantigma
Updated: 00:00 BST, 12 November 2003

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LAST week's 100-point rise in the FTSE 100 索引 took the market to 正確に／まさに where we identified a 抵抗 level. The high for the week was 地位，任命するd last Friday when the market 攻撃する，衝突する 4389 points.

The good news is that we are still within our rising 貿易（する）ing channel, which has been giving us both 正確な and profitable 貿易（する）ing signals for several months. The 損なう ket now 現在のs an 適切な時期 for taking 利益（をあげる）s here, and is likely to drift lower for the next few days. However, if it 回復するs strength and の近くにs 井戸／弁護士席 above 4405 we will see a 膝-jerk rise in price.

The long-称する，呼ぶ／期間／用語 market rise is still in place, but it's likely that we'll see a few more days of retracement within this 形式, meaning that the Footsie could 減少（する） as low as 4275 and even 4210. However, as long as the 索引 doesn't break below the 4210 support level, it will remain within the 'bull' up-傾向, and 買い手s will 押し進める it 支援する up.

This week's 抵抗 level is between 4390 and 4405, 現在のing a 広大な／多数の／重要な area for 投資家s and 仲買人s to take 利益（をあげる）s from previous 購入（する）s.

On the upside, a 納得させるing break and の近くに above 4405 would 示す a '勃発する'. This 勃発する would give the market new upside impetuous and a 的 level of 4750, 経由で some 抵抗 at 4460 and 4605.

On the downside, retracement is 高度に likely に向かって the 4275 level and in the event that the market breaks below 4210, the Footsie will show 調印するs of panic selling and 減少（する） to 4150.

Footise Fortunes is written by Simon Brown of Quantigma - a 会社／堅い specialising in 道具s for technical 分析. It is 規制するd by the 財政上の Services 当局. For more, go to www.quantigma.com