12th June 2018
Well we got the rise to the 7755 resistance area which then saw a 40’ish point drop, before the bulls brought it back up again. Bit annoying to have the 7680 long miss by 2 points first thing though! The big news of the moment is the summit in Singapore, with optimism abounding. After thats out the way, we then go straight into the central bank forecasts and also quadruple witching on Friday. Fed still expected to raise rates tomorrow. The fear/Greed indicator is still rising, up to 65/100 now, so we may have a bit further to go with the upside.
FTSE 100 Trading Signals, Forecast and Prediction
I expect today will be politically driven, with a bit of a dip down to the 200ema on the 30min chart at 7717 to start with this morning. There is also decent 2 hour support at 7714. If this level holds then we should well get another leg up towards yesterdays high at 7772, though there is daily resistance slightly above this at 7778. We may well see some bears there, though any move above this will likely lead to the fib level at 7797 where we also have R1 for today.
Bloomberg’s Asia Report here
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