7099 resistance today | 7010 support | Tech-led slump | Tariff talk | Possible Brexit deal | Trading help

7099 resistance today | 7010 support | Tech-led slump | Tariff talk | Possible Brexit deal | Trading help

13th November 2018

Well that was a lot more bearish than I was expecting yesterday with the 7175 resistance level being even stronger than I thought it would be. We steadily dropped from that for the entire session, breaking the 7115 support area to test that lower support zone at 7055. We had a bit of a bounce there after the bell, but overnight have tested a low of 7035 where we have one of the key fibs based on yesterday’s action. Below that we are looking at 7010 again. The bulls will be keen to push above 7100 today though with Asia having a weak Tuesday session, US tech shares still leading the slump, and more trade tariff talk (which is what triggered the declines yesterday) it may be short lived.

  • Stocks rebound as US and China reopen talks on trade
  • Talks ahead of crunch meeting next month between Trump and Xi Jinping at G20 Summit
  • FTSE 100 jumps 0.6pc but oil slide holds back stocks
  • China’s government talks about reform – while it tightens its grip



FTSE 100 Trading Signals, Forecast and Prediction

Tricky one to call today in terms of how it will actually play out, however there are a couple of key levels that I am watching for today. The first is resistance at the 7099 to 7117 area as we have the 200ema on the 30min at 7099, and then decent looking 2 hour resistance at the 7107 and 7117 levels. That chart has gone bearish after yesterday’s weakness and the failure of the bulls to defend the 7115 level yesterday.

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