The 20 bar EMA crossed above the 50 bar EMA yesterday on the hourly chart at 15:00 GMT. This event signifies that the market in the last 20 intervals, hours in this case, values the asset above the level held during the last 50 bars. It is a reliable indicator of continued upward movement in price. Associated volume is double the 20 bar average. This too is an indicator of momentum or sentiment. This means that there is considerable, more than double, the amount of trading supporting the movement. This is a combination of indicators that bodes well for a continued rise in price. FTSE UP for the end of day and hourly trades.
Strength returns, Panic arrested, for now,
Daily Analysis - 29/03/2018