7215 resistance now support | trade tariffs | Trading analysis signals alerts

7360 support holds - can it be defended | 7400 7450 resistance | Analysis Education

10th April 2018 – FTSE 100 Trading signals

Want to discuss things with other traders – please visit the free forum here for todays discussion

The week started off with another volatile session yesterday, especially in the US which saw the S&P hold the 2615 support area, rise to 2653, drop right down towards the bell to 2610, only for the futures to then climb again to 2655. The latter rise was fuelled by a more optimistic, risk on, Asian session as China’s President Xi Jinping said he backed free trade and dialogue to resolve the “trade war” scenario we are heading towards. President Trump certainly has a way of bending others to his will!

The FTSE 100 meanwhile tested 7145 before rising to once again try and break 7220, failed and dropped back to 7170 but has managed the next key resistance level at 7255 overnight. Ideally we would have tested that in hours for a decent short opportunity too. A break of this keeps 7330 in play as well.


FTSE 100 Trading Signals, Forecast and Prediction

I mentioned yesterday that above 7220 we were looking at a test of the 7255 area and we have dropped off that overnight following the China driven rise in Asia. The S&P is once again testing the 2650 area as well. So, the ball is in the bulls court to push on again today and try and break above 7255. If they do then the 7330 area is the next resistance level of note, with 7350 above that. However, we also have R3 today 7292 so we may well see a stutter in this area. Bulls that loaded up on the dip yesterday evening might use this level as a chance to take profits. We also have the top of the 20 day Raff channel at 7270.

Bloomberg’s Asia Report here

Membership

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.

Results

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