30th May 2017

With markets closed in the UK and US yesterday there wasn’t much happening, though Corbyn’s gains in the polls have seen cable fall back towards 12800, which kept the FTSE 100 futures prices around the 7550 level. A slightly weaker Asia session has seen them drop back a bit towards 7530 as I write this.

The ASX200 had a V shaped day today, recovering from its initial falls and bouncing from a key fib level. Hong Kong and Chinese markets are closed today, and the first day back in the UK could well see light volume again. Oil has dropped back and gold has risen further, so would suggest a slightly weaker FTSE 100, at least initially. Maybe a V shaped day fro us too…

FTSE 100 Outlook and Prediction

The bulls have so far failed to break the 7550 level, and indeed the 2 hour chart is now bearish with resistance at this level…..

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