30th April 2018 – FTSE 100 Trading signals – Learn to trade the markets
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I expect today we will build on Friday’s rise, as the 7420 support level held well and the bulls managed to break above the 7475 resistance level, so a rise towards the 7550 level looks probable, with 7580 above that. Most U.S. stocks edged higher on Friday as the debate continued over whether better-than-forecast corporate earnings are enough to offset signs the economy may be cooling. Cable dropped hard on Friday which helped the FTSE 100, as it looked like a May rate rise will be pushed back.
Looking ahead to this week, the Federal Reserve is expected to keep rates unchanged, but investors will be watching for commentary on Treasury yields and GDP. US personal spending probably accelerated in March. Manufacturing may have expanded at a slower pace in April. Nonfarm payrolls probably accelerated in April, and the jobless rate is forecast to fall to 4 percent.
FTSE 100 Trading Signals, Forecast and Prediction
As mentioned above I think we will follow the ASX200 movement today with a decent bullish day. Bull Monday again!? There is decent support to start the day at the 7510 area, with the daily pivot at 7486 below this. I am looking for a rise towards the first resistance level at 7550 and possibly a push higher to the R2 level at 7580. The 2 hour chart is bullish still, having held the 7420 support, and the markets have so far reacted pretty favourably to the development in the Korean Peninsular, with the NK plans to de-nuclearise.
Bloomberg’s Asia Report here
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