16th February 2018
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That was a great reaction on the FTSE 100 at 7265 and the short from there worked well, with a run down almost bang to target at 7206, bouncing at 7206.7 instead. Shame really that it just missed the long as would have been nice to get the points on that bounce too. Mustn’t be greedy though as they say (boo hiss)! The US continues its recovery after shaking off last weeks bearishness, with it now looking like a massive shake out with the drop on the S&P to 2550, as its now recovered back above 2700.
Cable is back above 140 which might well suppress the FTSE 100 a bit today, and volumes were light in Asia as most markets were shut for Chinese New Year. The ASX200 (Australia) dropped down slightly during Fridays session.
FTSE 100 Forecast and Prediction
For today on the FTSE 100 I am thinking a rise and dip day, with the resistance area at 7288 being tested. There is a fib level at 7298 just above this so I think that we may well see a stutter here if we continue to rise and build on yesterday afternoons bounce.
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