7235 support with a rise to 7400 on the cards | Learn to trade | Analysis Alerts Signals

Quadruple witching today but a rise towards 7614 is 7561 holds early | 7658 above | 7514 below

18th April 2018 – FTSE 100 Trading signals – Learn to trade the markets

I have removed the forum for the moment as the layout went haywire. Please use the comments below this post.

The FTSE bulls managed to defend the 7190 level yesterday and we got a modest rise but closed under the 7240 level, at 7226, up only 28 points. The bulls need to break this 7240 level for a rise towards 7275, and a move higher out of hours has certainly given it more likelihood. The US had a decent session, as did the Dax, as encouraging earnings data is unveiled in the US. That helped fuel a rise in Asian equities on Wednesday, as fear dissipates again with trade wars taking a back seat and the focus on earnings and “buying the dip”. The fear gauge has moved up to 28/100 now, from 7 a couple of weeks ago.

However the IMF tried to spoil the party as they predicted the world economy’s strongest upswing since 2011 will continue for the next two years, but warned the seeds of its demise may have already been planted. The fund left its forecasts for global growth this year and next at the 3.9 percent it estimated in January and raised its outlook for the U.S. as Republican tax cuts take effect. Beyond that horizon, global growth will fade as central banks tighten monetary policy, the U.S. fiscal stimulus subsides, and China’s gradual slowdown continues.

We have a 9.8 dividend on the FTSE 100 today, so may well see bit more bullishness during today. The bulls need to defend 7230 first thing.


FTSE 100 Trading Signals, Forecast and Prediction

The movement of the FTSE 100 has been a bit lacklustre recently, weighed down by cable which is still hovering around the 143 level. However, we do have a decent looking bullish 2 hour chart for the first time in a while with support at the 7235 level. Coupled with the daily pivot and yesterdays close at 7226, we may well see bounce from here, if we get a bit of support today ahead of the divi. I am feeling that a rise towards the 7275 level is on the cards.

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

One Comment

  1. Just missed the 7235 support area, bouncing from 7239. CPI data fuels a move above the 7275 resistance, which brings 7320 into play short term.

Comments are closed.