Legal and General: Traders Thread, Long or Short...WITH Graphs

From a technical perspective, there needs to be a wedge formation to give a decisive break one way or the other. Then and only then will a break be forced. And while I would like to believe it will rise, there is a 40% chance that it will recede. I IMO the Barclays wallah is unable to state the obvious.... "wait for confirmation from the charts".

Perhaps he has too much confidence in his interpretation, or a similar confidence in his assumption that his words will move the market? I genuinely feel that his comment is naive and based on a scant knowledge of TA. There is a rolling resistance, 115p a technical resistance which has been challenged on many occasions, has been broken but never held for the "magic" 3 day "rule", rolling support, technical support and the psychological support. After that there is the minutiae of MACD, RSI, PV, Vol, Momentum, Stochastics, %Williams and a heap of other indicators, candlesticks and points and figures to interpret which might or might not be proved correct anyway........

I'll stick with my comment that it is too early to decide in the absence of volume and at a time where the City haven't returnd from their holidays, no point in making a decision until Mid January when strategies are decided.