Abbey National UP

I would expect the FTSE may still go slightly lower over the next few days not beyond the lows though - around 3800 as the limit. After this however i would expect to go back over the 4000 level. An upmove to be sustained through january and this bodes well for abbey national which i would expect to see it back above 560p atleast which is the 20day ma, but this level will likely be breached with the market strength and if Abbey is strong enough i think 700p is within sights, whatever we do reach though i will be looking to exit around the beginning of February. The Fibonnaci time cycles provide a February 5th target for the market top and with the other corroborating formations and technical indicators i would expect the market to top out around this area.

Championismo