24th April 2018 – FTSE 100 Trading signals – Learn to trade the markets
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The bulls defended the 7360 level well yesterday and despite a slow start the long worked well. They then managed to break through the 7398 resistance level in a good sign for further upside towards 7500. The bulls will be keen to ensure that we don’t dip down too much as the open today, and with cable falling as the dollar strengthens that is helping the FTSE 100. Cable dropped below 140 yesterday which helped the FTSE hold onto its gains, with US investors focussing on the treasury market, where the 10-year note is hovering around 3%, its highest level since 2014. Generally It all still looks bullish, with the fear index now at 40/100, up from 7 a few weeks ago.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am thinking that bulls will build on the break of the 7398 resistance level and we have the next area of note in play which is 7432. This area should get a reaction, and we may well see a retrace back down to the 7395 area – resistance now becoming support. If the bulls can keep the momentum and we get the “buy the dip” mob come in today, we are looking at a push up towards the 7500 and higher level this week.
Bloomberg’s Asia Report here
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