13th August 2018
Fridays declines continued into Asia Monday and the futures markets as worries over Turkey continued. Money is flowing into safe-haven assets like Treasuries and the Japanese yen as the situation in Turkey gives traders a reason to reduce positions in riskier assets. I did read one item over the weekend that was suggesting a possible conflict between Greece and Turkey as well!
With the 7783 area (slight overshoot to 7791 notwithstanding) we look to be on the down leg we have been expecting now, with the 7550 area and possibly lower back into play. This week I am expecting volatility, a drop in indices and riskier assets, and a bit of a flight to safety – gold, yen and so on – and in fact that has already started as soon as Asian markets opened.
FTSE 100 Trading Signals, Forecast and Prediction
With the futures markets down and a general risk off sentiment the prevailing trend is down, however I would not be surprised if we get an initial kick up first thing on the FTSE 100 towards the 7693 daily pivot and the 7702 200ema on the 30min. We do have the 30min coral slightly lower as resistance at 7669 (and dropping) so may well see a stutter here instead.
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