15th August 2018
We got the dip down to 7600 yesterday, but not quite 7590 unfortunately. We then got a decent bounce to the 7650 area, but generally it still looks weak with a test of 7560 level looking possible now. We do however have a 17 point dividend to be applied today which may well underpin some bullishness today.
FTSE 100 Trading Signals, Forecast and Prediction
There is decent looking daily support at 7560 so if we were to get that low today this looks like a decent long entry area – possibly even a swing to hold for a few sessions.
The daily chart is starting to weaken with the 10ema crossing over the 25 in a bearish move, showing resistance at 7669 – the bulls will be keen to prevent this “locking in” by driving prices higher today. A close below 7625 will however probably see that confirm bearishness.
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