13th June 2018
Asian equity markets were mostly higher as the region took impetus from the upside in Wall Street yesterday. The FTSE 100 bulls fought back yesterday after Wednesday’s sell off with just a small 30 point dip off the 7660 level to gain a few bear points. The 7600 level was defended at the open. Donald Trump has arrived in the UK and has told PM May that the Brexit proposal could scupper a future US trade deal. Overall the FTSE 100 has shaken off the weeks earlier worries and looks to push above 7700 today, with decent support now at the 7650 area. However, 7715 is still the hurdle to jump!
News highlights include Uni. of Michigan Sentiment, Baker Hughes, BoE’s Cunliffe, Fed’s Bostic, earnings from Wells Fargo, JP Morgan and Citi
FTSE 100 Trading Signals, Forecast and Prediction
For today I am expecting a dip and rise scenario to play out with the 7650 support area tested. There is decent resistance at the 7705 to 7715 level as well, and we are not far off that to start with this morning. We also have earnings later with JP Morgan and Citi likely to move the market a bit.
Bloomberg’s Asia Report here
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