Following the formation of a bearish engulfing candlestick pattern on the weekly chart for the week ended 30 October 2015, the FTSE 100 index continued to trade lower in the last week, finishing at 6118.28 on Friday, after making a low at 6088.76. Weekly momentum oscillators are grinding lower, hinting at the presence of bearish momentum in the coming week. On the daily chart as well, momentum oscillators are trading with a negative showing, further validating the downside stance. Key daily support to be watched is situated at the 6050 level, a breach below which might trigger further acceleration to the downside, followed by the crucial 6000 and 5900 levels as the next possible downside targets. However, a lower Bollinger band crossover on the daily chart hints that the pair is likely to witness recovery in the near term. Important near term resistance is located at the 6200 level, followed by the next ones at the 50day SMA (currently placed at 6241/45) and 20day SMA (currently located at 6344/50) levels. A break above the latter is required to negate further bearishness in the pair.
Cashflow accounting – The need for consistency
20th September 2017
According to the US Securities and Exchange Commission, “Cashflow statements report a company’s inflows and outflows of cash”. This is such a simple and obvious statement. Unfortunately, the failure of accounting bodies around the world to
