12th October 2018
Yesterday saw a break of the 7015 level in the end (though it did hold in the morning for a few long points against the trend) and a low of 6920 was seen yesterday evening. The bulls snapped it back from there and the FTSE is back above 7000 currently, A spike down and quick recovery like that on the US indices may of course just be a final flush to stop out the bulls before the bullish trend resumes, and was also a test of the mythical 200 period daily moving average. Asia has helped overnight futures prices by staging a bit of a recovery.
It’s looking like we may get a rise towards the 7090 – 7100 level this morning.
FTSE 100 Trading Signals, Forecast and Prediction
Basically looking for a rise towards the 7090 level to start with today, and possibly 7120 (again!) after that. We have initial support at the 7015 level again where we have the pivot and also just above the 30min coral at 6993. Ergo this area is worth a small tentative long.
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
I keep a record of all the trades communicated to members via the morning email trade plan and those alerted live. See the results here.
What you get
- Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
- Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
- Telegram Chat room and webinar group membership for discussion and realtime trade updates