17th May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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Bit of a funny one yesterday as the FTSE failed to push on past the 7745 resistance area, but equally managed to defend the 7720 support area. Overnight we have pushed up to 7750 but dropped back a bit, which leaves the 7760 and 7795 resistance areas still in play for today. As with yesterday, the bulls will be keen to defend the 7720 level on any dips.
FTSE 100 Trading Signals, Forecast and Prediction
We are certainly nearing some key resistance levels around here and as we are near the all time highs there will be a slight reluctance to pile in. The S&P has decent looking resistance at the 2742 area for today/tomorrow and that could well coincide with the FTSE hitting the 7795 area. Slightly lower on the FTSE there is also daily resistance at 7760 after yesterday’s slightly flat day. We have a key fib level at 7789 also for today, so again, looking to short the rallies and cautiously bullish.
Bloomberg’s Asia Report here
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