19th February 2018
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The US is closed today for Presidents Day, so we are likely to see slightly lower volumes today during the European session. The rise from last week has continued during the Asian session which has brought the FTSE 100 futures up above 7300 for the first time in a while, with the rise looking to continue towards the daily resistance area at 7385 currently where we have a moving average resistance line. Its looking positive for this week at the moment, with the 2 hour chart still suggesting more upside, and support initially at the 7250 area. If the bears where to break this then a drop down towards the bottom of the 10 day Raff at 7050 is possible.
FTSE 100 Forecast and Prediction
If the bears were to break the 7286 pivot level then we have decent looking support at 7250 on the 30 minute chart, and this level is worth a long if seen, for a push back above the 7300 level, towards the 7325, then the fib level and R2 at 7340.
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