12th September 2018
The FTSE bottomed out at the 7225 level again and then climbed back, while the S&P dipped to 2866 then climbed strongly. The Dax hit a low of 11862 and then climbed to 12000. Certainly a few bulls around, just took a while to appear.
U.S. stocks gained as the technology sector rebounded and energy-related shares rallied with oil. Treasury two-year note yields rose to a decade high with the U.S. selling debt and expectations become cemented for more Federal Reserve rate increases. Crude rose the most since June as Hurricane Florence threatened U.S. East Coast gasoline markets and sanctions began crimping Iranian oil exports. The S&P 500 and Nasdaq rose for a second day, while the Dow recovered from Monday’s losses after investors shook off lingering anxiety about U.S. and Chinese trade relations. In emerging markets, shares fell while a gauge of currencies was little changed. Hong Kong stocks will be in focus Wednesday after the Hang Seng entered a bear market.
FTSE 100 Trading Signals, Forecast and Prediction
Today I am thinking that we get a bit more of a drift up towards the initial resistance this morning at 7310 area, and then a further push up towards the daily resistance at 7344. Should the bulls break this then we are looking at the 7380 area. Daily resistance for the top of the current down trend has moved to 7428 but we probably won’t see that today! Oil has risen as a result of the Hurricane bearing down on the US East Coast, which in turn will help BP and Shell which make up a large % of the FTSE 100. If cable dips back below 130 that will also underpin the FTSE 100 bulls.
We have a tiny dividend of 0.26 today.
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