10th May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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That was quite the rise yesterday as the 22 point divi brought the bulls out and saw the FTSE 100 pull away from the 7600 area that had been resistance. The US markets reacted bullishly as well, after Trump withdrew the US from the Iran nuclear deal. That did see oil break above $71 per barrel though (which helped the FTSE as well). For today I am looking at 7725 FTSE resistance initially, with 7630 support now on the 2 hour chart. If the bulls break 7725 then we should retest January highs at 7796. On the news front today, highlights include UK production figures, BoE rate decision, minutes and QIR, US CPI and weekly jobs.
FTSE 100 Trading Signals, Forecast and Prediction
For today we may well see the bulls continue that momentum from yesterday, at least initially, for a rise towards the 7725 resistance level. There is a fib resistance level at 7702 to negotiate first so we may see an initial dip off that, probably down to test the 30min coral at the 7670 area before another push higher. The ASX200 had a bit of a drop back after an initial rise, and we may well follow a similar pattern.
Bloomberg’s Asia Report here
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