After recording a bearish engulfing candlestick pattern on the weekly chart for the week ended 14 August 2014, the FTSE 100 index formed a long bearish candlestick in the previous week and settled below the lower Bollinger band (currently trading at 6308/10) and 200week SMA (currently situated at 6343/45) at 6187.65 on Friday, after nudging lower at 6187.65. As of now, weekly momentum oscillators are heading downwards, reflecting at potential downside momentum in the coming session. Currently, on the daily chart, momentum oscillators are grinding lower, further validating the above view. Crucial weekly support is located at the 6076/65 level, followed by the 5900 and 5815/00 levels, a breach below the latter might lead to increased selling pressure in the index. However, formation of bearish divergence conditions on the daily MACD hints that the index might possibly recover in the coming session. Important weekly technical obstacle is situated at the crucial 100SMA (currently located at 6711/15), followed by the 6796/6800 and 6878/85 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
