Don't Ignore This Chart!

FTSE Forms Inverse Head-and-shoulders Pattern

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The London FTSE 100 ($FTSE) found support near its January-February lows over the last few weeks. With a deeper dip in March, an inverse head-and-shoulders pattern is taking shape in 2011. A break above 6100 (neckline) would signal a continuation higher.

110511ftse
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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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