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Another Dip is in Order

Posted on the 03 May 2013 by Andyepb

Chart of FTSE-100 at 2nd May 2013After a good surge, there is pattern that looks like a local maximum: a horizontal series of three small peaks each slightly higher than the last. I am expecting a dip below the 20 day moving average (the green line) for a day or two, before the rally continues. How high the rally goes is a good question; I am not sure whether the decline after my March peak has finished or not. I am hoping not and that the index will not go above 6500, but we’ll have to wait and see. Again, it is not following the pattern of the chart on my last post as well as I’d like for me to be confident of another crash.

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