FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 11th October 2022
That was a decent bounce off the 6920 yesterday with the bulls managing to get it to 7000 before it dropped off again, and overnight we are back at 6920. Below this the next daily support is at the 6862 level and if we get a bear Tuesday we may well see this. It looks pretty weak across the board to start with today so we could see a rise and dip play out on the various indices.
I am thinking that the FTSE100 will get a rise towards the 6980 level (and thus set a lower high for the week so far) as we have the 200ema 30m here, but also more crucially it will be the first test of the now bearish Hull MA on the 2h.
If we were to slide from there then we may well break the 6920 the more it gets tested which may well see that next daily support level, and also S2 at 6885.
Above the 6980 level then the bulls would once again want 7000, and try and push past it this time. However we have key fib resistance at 7015, and also the red 2h coral at 7010 so there are a couple of strong resistance levels in play that they would need to break, to target R2 at 7042 above that. A hold above 7000 would also bode well for some further strength ahead of the US CPI figures on Thursday.
Should the bears break 6885 then 6862 as mentioned, and below that 6848 for S3. I don’t think we will get that low, as cable drops back further (which will help underpin the FTSE100 for the moment) and is back at the 110 level.
S&P500
As with the FTSE it’s back at yesterday’s low so we may well see a double bottom bounce on this as well for a rise towards the 3635 resistance level. That could tie in with a test of the 2h Hull MA, though whilst that is currently higher than this level its dropping quite steeply. If the bears were to break below the 3590 level where we have the key fib support (and the double bottom area) then 3585 is S1, but more crucially the bottom of the 10d raff channel is at 3572 and would probably be seen.
The bulls are slightly on the back foot after the recent gains, though once again referring to the seasonality chart here, we do get a strong start in October, dip down, then the bulls come fighting back. Will we see that again this year?!
Good luck today.
Recommended Broker
IC Markets – offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Membership and Live Trading
If you would like more detailed analysis for FTSE100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
What you get
- Daily Analysis pre market open (sent around 7am each day) for FTSE100, DAX40, Gold and S&P500.
- Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
- Telegram live trading room and webinar group membership for discussion and realtime trade updates
Keep up to date with new content, free sign up below with just your email address