13th March 2018
FTSE 100 Trading signals
The FTSE 100 was pretty lacklustre yesterday after the initial drop from 7250, breaking below the 7220 support area after an initial small climb to 7236 faltered. The bears broke it below 7200 in the afternoon, helped by a weaker US session as the S&P 500 recoiled from the 2800 level. The Dax long fared a lot better with a great entry at 12360 to regain some points for the day after what was a pretty poor show for the bulls. The FTSE 100 now has resistance at 7208 (30min) and 7227 (2 hour) so the bears are starting to gain control. There is also a ratcheting up of tensions between UK and Russia following the nerve agent attack, with the UK issuing an ultimatum for a response by today. Though you never know what’s going on behind the scenes and it may of course just be for show. Makes a change from having Brexit news rammed down our throats though! We have the Chancellors Spring Statement later as well so may have a slightly subdued session this morning ahead of that.
FTSE 100 Trading Signals, Forecast and Prediction
There is a small dividend tomorrow of 1.5 as well. The bulls seem to have defended the 200ema on the 30minute chart well so far, which is at 7192 and has survived a double test overnight. If the bulls are able to rise from this area then there is now 2 hour resistance at the 7227 level and it will be interesting to see what happens here.
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