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

7525 support 7575 resistance | learn to trade | analysis help

6th November 2017

Want to discuss things with other traders – please visit the forum here for todays discussion

Friday saw a bit of a decline, that has continued overnight with the Asia session. NFP on Friday provided a mixed picture of the strength of the labour market, while odds for a Fed rate hike in December were little changed. The FTSE 100 declined from the 7580 level, just shy of the 7585 resistance level, and has tested the 7530 support area overnight. S&P and gold both fell – cut those shorts far too early!


FTSE Outlook and Prediction

FTSE 100 Prediction Support Resistance learn to trade analysis
FTSE 100 Prediction Support Resistance learn to trade analysis

Generally it looks quite positive for today and the odds favour a bullish Monday. 7525 is the 200ema level on the 30min chart and looks fairly key initially – the bulls will be keen to defend this and also keep the price above 7500. If the 7525 level breaks then I am watching the 7505 level as support, and S3 at 7499. If this breaks then 7480 beckons and then the bears start to gain more traction.

Membership

Want more detailed analysis for FTSE 100, DAX, Gold and S&P? Then please join our active members community.

What you get

  • Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
  • Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
  • WhatsApp and webinars group membership for discussion and realtime trade updates