7190 support 7275 resistance | Learn to trade the markets | Analysis Alerts Signals

Bull Monday to continue with 7375 74150 resistance today | 7305 7250 support | Tory lead polls

17th April 2018 – FTSE 100 Trading signals – Learn to trade the markets

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Strength in the US markets failed to carry through on to the FTSE 100 yesterday, as it was weighed down by oil companies, WPP, and also USDGBP (cable) making new highs above the 143 level. The FTSE 100 trended down all day, falling from 7270 to 7190 as its lowest, before a small rise overnight. Meanwhile Asia fluctuated as investors parsed a mixed set of economic numbers out of China. Unfortunately the S&P didn’t dip down to the 2655 long order yesterday as it had a decently bullish session, climbing off 2660 instead to its highest level in a month.

We have a 9 point dividend on the FTSE 100 tomorrow, which may well lend some support for today. As mentioned yesterday I am watching the 7150 to 7300 range for this week still. We have however got some more resistance at the 7273 level on the 2 hour chart as the coral has turned red here signifying a downtrend kicking in.


FTSE 100 Trading Signals, Forecast and Prediction

For today we may well get a bit of a kick up as the US strength from yesterday carries through and if cable stays around the 143 level. I am looking for a rise towards the 7275 level which looks like it will be a decent shorting area, though above this I still have the 7284 and 7320 areas a pretty key for this week.

Yesterdays low was 7190 and a break of this is likely to see the 7155 area where we have decent daily support. Of course a break of this is bad news for the bulls as it opens up 7100 and maybe as low as 6800 which was showing as support earlier this month.

Bloomberg’s Asia Report here

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