7742 if the bulls can break 7727 | Learn to trade | Technical analysis alerts signals

Can the bulls defend 7555? | Day trading strategies | Learn to trade | Analysis

15th May 2018 – FTSE 100 Trading signals – Learn to trade the markets

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Turned into a bit of a flat day on the FTSE 100 yesterday with the surprising turn of events that the bulls couldn’t manage to break above the 7725 resistance. That weakness yesterday has set the 2 hour chart back to a bearish picture, with 7741 resistance in play for today. A short here looks worthwhile. Gold didn’t quite reach the optimism entry at 1322 but hoping on at 1320 has paid of instead and has continued to drop overnight.

A bearish ASX200 during Tuesday, coupled with the bulls failing to break 7725 makes shorting the rally today look the better play, especially ahead of the trade meeting between the US and China.

FTSE 100 Trading Signals, Forecast and Prediction

As mentioned above the 7740 level looks ripe for a short now, if the bulls are able to at least try to break the 7725 resistance level. Resistance above the 7748 level is at 7792 and a likely target should the bulls power up today. Cable and oil are certainly helping the FTSE 100 so far, if cable rises and oil drops a bit then the FTSE 100 is likely to go weak.

Bloomberg’s Asia Report here


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