It is well known that you do not kill the messenger, even if he brings bad news. And so we, ladies and gentlemen, are those very messengers who generalise and bring to you the opinions of 35 analysts from world leading banks and broker companies, as well as forecasts based on different methods of technical and graphical analysis. We collect all this in a table and try to deduce some sort of averaged indications.
Regarding last week’s forecast, we have to admit that the forecaster proposes, but the market disposes. Just like the old saying goes. And so last week, not only did 30% of the analysts fall through, or simply speaking make inaccurate forecasts, but also... 91% of the indicators! Only 6% of the analysts hit the bull’s eye (if you do not take into account the 58% who simply did not know, wisely refusing to comment at all). As an explanation we can only offer the Easter holidays (what else?