After forming a long bearish candlestick for the week ended 3 July 2015, the FTSE 100 traded with a positive tone in the previous week to end at 6673.4 on Friday, following a high at 6687.6. Formation of a bullish engulfing candlestick pattern on the 8H chart on 8 July 2015, coupled with momentum oscillators trading with a bullish bias suggests positive movement over intraday basis. Signal line crossover by the daily MACD along with the RSI and stochastic surging higher reflects at a bullish technical picture. Lower Bollinger band crossover on the daily chart suggests that the pair might continue to trade upwards. Important daily technical obstacle is situated at the 6700 level, followed by the 6734/35 and 6800 levels, a clear break and stability above the latter would confirm the bullish bias, testing the 6827/30 and 6884/85 levels. On the contrary, key support is placed at the 6575/72 level, followed by the 6520 and 6500 levels .
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
