7787 7823 resistance levels | Rise and Dip | Trading Technical Analysis

Watching for 7715 | Learn to trade analysis signals alerts| Day trading strategies

16th January 2018

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With the US markets closed yesterday the FTSE 100 was fairly flat, with the big news being Carillion going into liquidation with far reaching repercussions for lots of smaller companies. Despite being closed, the Dow Jones managed hit 26,000 for the first time and it’s back above that level this morning, while the dollar dominated trading on Monday as it headed for a fourth day of declines, weakening against every major currency. Cable now at 138 but not driving the FTSE100 down so far.

With yesterday being so flat, todays analysis is fairly similar to yesterday’s with the levels remaining around the same areas.


FTSE Outlook and Prediction

7787 7823 resistance levels | Rise and Dip | Trading Technical Analysis
7787 7823 resistance levels | Rise and Dip | Trading Technical Analysis

For today I am thinking a pretty similar plan to yesterday. Resistance is around the 7787 level to start with, but if the bulls push above this then a rise to 7823 looks pretty likely. Above this the next resistance area is still 7840. We have earnings this week and Chinese GDP on Thursday as the main market movers.

Support wise today then we have 7759 and 7755 as the main areas, with S2 at 7742 below that. The main thing to watch today is the cable move, and you would expect the FTSE100 to have dropped back a bit as thats risen to 138. But it hasn’t so far, but will be watching the resistance levels closely today. As cable rises, normally the FTSE 100 would take a breather or drop a bit, however, even with it pushing on to this 138+ level, the FTSE 100 has remained steadfastdly bullish. The bears certainly haven’t been around much this year so far!

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