SSE

Look out for a 123-low breakout on SSE this coming week. The level to watch is 1383 to target the area defined by the downtrend resistance, the 38.2% Fib shown and the previous support from the 1461 low on 25th June:



dl.dropboxusercontent.com/u/20815047/FTS...SSEdaily12_01_14.png

dl.dropboxusercontent.com/u/7238706/SSE.png

There's a possible long here. The trend line on the RSI has been broken as has the 21EMA. Be interested in others opinions....

Well, the support level at 1363 didn't hold so now we are looking at 1286 - 1266....


dl.dropboxusercontent.com/u/7238706/SSEnov27.png

If this closes above 1425, it could trigger off a 123 setup. This is also on the basis that it doesnt close below 1379....
It has been trading on a very tight range over the last week or so....

dl.dropboxusercontent.com/u/7238706/SSE.png

Getting very close to a key support area now 1363 - 1375

waverider2 wrote: Fully agreed Diver man. Look at the 4 hour charts - the divergences are very clear...

all the best. I am long on this already - hope we have seen the bottom of the rot.

Usually the more you drill down the time-scales the more obvious the divergence. It's quite a good ploy when you suspect the start of a divergence, in whatever time-frame you use, to go to the next one down to get the early signal