Optimism pays off with a beautiful rebound.

Managed a 5 times return with the nice rebound following on from our previous post. We continue to trade within this 8 month long ascending channel and I have taken some profits as we approach its upper limits.

I anticipate a sell-off in January, common for FTSE and other stock markets as we head towards the end of financial years. In the very near term I expect a slow grind back up to the 7400 level, perhaps even onwards to the 7460 level over the remaining trading days in December. I will trim my remaining position until then. Technical pullbacks are possible over the coming days as the bullish news thins out. A close of the 4H8EMa gap at 7300 would be a good entry point for further upside. If lost 7250 and 7230 would be good entry/exit points for hedging.

Predominant confounders are ofcourse omicron but the statistics are reassuring at present. I find it interesting how the pharmaceuticals play up the severity whilst the politics play it down at present. It's almost if they have money banking on this kind of stuff. ;-)

Trade safe