17th September 2018
Typhoon Mangkhut is losing power after making landfall in China and leaving Hong Kong with roads blocked, buildings damaged and low-lying areas flooded. That didn’t help Asian markets Monday, which generally declined, also weighed down with the latest trade talk. China is considering declining the Trump administration’s offer of trade talks later this month after fresh threats of tariffs from Washington, the Wall Street Journal reported. President Donald Trump instructed aides to proceed with tariffs on about $200 billion more in Chinese products despite his Treasury secretary’s attempt to restart talks with Beijing to resolve the trade war, according to four people familiar with the matter. An announcement, which has been delayed so officials can consider revisions based on concerns raised via public comment, may come as soon as Monday.
U.S. equities staged a late-day rally on Friday after earlier sinking on the reports of Trump instructing aides to proceed with tariffs on more Chinese products. The dollar strengthened for the first time in three days and U.S. 10-year note yields briefly climbed past 3 percent. Silver led precious metals lower and oil hovered around $69 a barrel.
The FTSE long at 7292 on Friday never really got going in what was a pretty flat session for the biggest UK companies once again. Still looking at a possible rise towards the 7370 area early this week. 7428 is the level to watch above this.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am thinking that the 7278 support area will hold initially for yet another assault on the 7320 level. If the bulls manage to push higher and break this level then we are looking at a rise towards the 7350 area initially. Above this I am then looking at 7371. We have a fib and also the top of the 10 day Raff channel just above the 7350 level so may well see a reaction here if we rise to this later on today.
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