FTSE 250 (FTSE:MCX) is currently gloomy for the
bulls, but a boon to the bears. The price has been trending southward and it
could go further as such.
This stocked formed a top in January 2014 as further
northward effort was rejected. Since then, it has crossed the EMA period 21 to
the downside, while the Williams’ % Range dropped to the oversold region. There
could be a temporary rally in the market, but things would drop further again. The
price could go towards the accumulation territory at 15000 this year; or
breaking it to the downside. Unlike FTSE 100 (a counterpart of FTSE 250) which was
bullish last year but underperformed the S&P 500, this market would keep on
being bearish. Again, unlike FTSE 100 which could be going further upward this
year, the outlook for FTSE 250 is gloomy. This shows that the two distinct markets
can be negatively correlated sometimes.
Conclusion: Everybody desires success but it’ll be
attained by few, for the ladder to success can’t be crowded at the top. FTSE
250, the right thing to do now is to seek short orders. A correct market
outlook could enable you to be on the correct side of the trend, so that you go
for the highest probability setups and avoid headaches.
This forecast is ended with the quote below:
“You
won’t go in a straight line from where you are now, to where you want to be.
You’ll get distracted, you’ll fall off course, and you’ll experience some
hiccups… That’s why persistence and the support of others who have been in your
situation counts…. If you’re zigzagging - you’re doing it right!” – Louise
Bedford (Tradinggame.com.au)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
No comments:
Post a Comment