After forming a bearish engulfing candlestick pattern on the weekly chart for week ended 05 February 2016, the FTSE 100 index continued to decline in the previous week and settled at 5707.60 on Friday, after falling as low as 5536.97. Weekly MACD is trading in the negative region along with the stochastic and RSI indicators sharply pointing south, hinting at the presence of bearish momentum in the coming week. However, on the daily chart, the RSI and stochastic indicators are trading with a bullish tone, suggesting at a bullish daily technical picture. 8H momentum oscillators are also trading with a positive bias, further endorsing the above view. The crucial 5750 level is acting as key daily technical obstacle, followed by the next ones at the psychological 5800 and 20day SMA (currently trading at 5830) levels. A break above the latter might trigger upside momentum in the index. On the other hand, key daily support to be watched is located at the crucial 5675 level, followed by the 5639/35 and 5596/95 levels. A breach below the latter might lead to further weakness in the index.
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
