22nd May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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Bulls certainly held it up on Monday as the 7855 level was broken for a 7873 high. Few headlines starting to appear in the main stream media about 10000 FTSE levels likely soon, which is always a good sign the top is near (was in the Telegraph this time) and we are about to start a leg down. For the moment however the momentum is bullish with 8000 beckoning still. The fear & greed index has hit 57/100 moving into “greed” for the first time in this climb from 6850 so time to start thinking about a bit of caution.
FTSE 100 Trading Signals, Forecast and Prediction
Fairly simple plan today really looking for further upside though the bulls might struggle to push past the 7900 area was we have R1 and the fib level around here for today. As such this area might well be a decent profit taking area on longs, and may see some brave bears entering the market. There is a chance though that we are heading to 8000!
Bloomberg’s Asia Report here
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