8th May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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Hope you all enjoyed the sunny bank holiday weekend! The FTSE futures were pretty sunny yesterday too rising above the 7600 level to test a high of 7630 before dropping back, but all still looks like they want to push higher, certainly early this week. Last weeks NFP data came in slightly lower than forecast but still saw markets rally, while US markets yesterday consolidated those gains. However, with the FTSE dropping down from the 7630 area, the 2 hour chart is bearish to start with today with resistance at 7592. The bulls will need to push above this level to test the 7630 again, with a rise to 7796 (all time high from January) still possible. Will we just double top there or will 2018 be the year of the 8000 FTSE?
FTSE 100 Trading Signals, Forecast and Prediction
We might have a bit of a cautious start today as we settle back after into the groove after Monday’s bank holiday. The 2 hour chart has gone bearish following the drop off 7630 yesterday so we have initial resistance at 7592, though the 30min chart has resistance slightly higher at the daily pivot 7604, and also a red coral trend line at 7610 currently. The ASX200 had a bit of a bearish session Tuesday so we may well follow suit as its eyes on the BOE later this week, and also Donald Trump’s announcement on the Iran nuclear deal later this afternoon, and if the US remains in the Iran nuclear accord.
Bloomberg’s Asia Report here
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