A rise in volume and open interest in the wake of the recent bounce in the Pound gives the bull camp some fresh hope of a key bottoming. A slight rise in the FTSE this morning off the benefits of lower oil might signal a shift in thinking from the fear of deflation to the hope of a better overall environment from the protracted and significant slide in oil prices. However, to signal a bottom, probably requires some sideward protracted consolidation above critical support of 1.5070.
