The Fibonacci retracement levels taking the high of the wick yesterday to the low of the wick today projects
50% = 5284
61.8% = 5290
My other variables such as Barclays, BP, BHP Billiton and Marcks and Spencer are not showing any signs or strength.
Add to that the liquidation in oil and the threat that it will breach $77 based on the assumption that EUR/USD is heading lower.
Dollar Index broken above 75.3-75.4 .............resistance = support
There is no argument for this market to higher at present .......
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