13th June 2017
Everyone was taking stock yesterday to see how things evolved I think as it was quite flat though we did get a bit of a bearish reaction off the 7537 resistance area in the end. The bears could only manage to take it down to the 7512 area though, while gold also remained fairly flat at 1265. The pound fell and tech shares declined again, as the Nasdaq continued to decline. However, overnight in Asia tech shares have faired better with the buy the dip mob starting to appear.
We have had a very bullish ASX200 session in Australia on Tuesday, and with the GBPUSD back below 127, might experience something similar here today. Wasn’t much bull Monday yesterday, and might not be much bear Tuesday today, though we are at the top of the 10 day Bianca at 7543 as I am writing this (7583 is the 20 day Bianca above this).
FTSE 100 Outlook and Prediction
No ones really in charge, its all slightly chaotic in terms of the UK government, well, better buy shares then! Overnight the FTSE 100 futures prices have risen well, following the lead in Asia.
I am actually thinking that we might well get a bit of a rise as well, and if the bulls can break the 7555 level we are likely to test that fib level at 7567. Above this then the top of the 10 day Raff is in play at 7600 and thats a pretty decent rise from the 7400 lows last week.
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