14th August 2017
Spaces available – Next Workshop Seminar 7th September 2017 London Heathrow – please click here
Bull Monday?! Shares in Asia rose during Monday, as did US futures, and the FTSE 100 futures are also off their 7291 low seen since Fridays close. The ASX200 had a decent up trending day also, as tensions over North Korea eased a bit and news was forthcoming that despite the rhetoric the US and North Korea have been engaged in diplomatic discussions for a while now, despite the public war of words.
I am still watching the 7250 area as support, as 7241 is the 38.2% fib level from the 7050 to 7550 move we have recently had. Upside remains around 7600+
FTSE 100 Outlook and Prediction
The vibe feels a little bit calmer over the Asia crisis so we may well get some tentative buying today and mimic the Asian and Australian markets. If we get an initial dip back down to test the out of hours low at 7291 then this area looks good for a long entry, though as mentioned above I am watching 7241 for a possible swing long area, though I would want a fairly wide stop on it, below the 7180 support area.
We have the bottom of the 20 day Raff at 7290 today, though a key fib level after Fridays move is slightly higher at 7302, so I am expecting a bit of support in this area. If this breaks though then I expect 7241 in fairly short order, and things then start to look quite dicey with 7213 (S3) and 7180 on the cards.
Resistance wise, then the first one is 7380 which was previous support now turned into resistance. We also have R2 here for today. Higher up, with the daily chart now looking bearish the 25ema is at 7418 so worth watching this area, while the 2 hour coral line is showing resistance at 7432. The bulls will be keen to break above 7400 and make it stick as above those resistance levels then 7480 is a viable target.
Membership
Want more detailed analysis for FTSE 100, DAX, Gold and S&P? Then please join our active members community.
What you get
- Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
- Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
- WhatsApp and webinars group membership for discussion and realtime trade updates
Well the weakness from Friday seems to have evaporated so far…but let’s see….
Are you still holding shorts anstel
Yes I’m going to hold them and see….
Are you still long from breaking your hedge ?
Yes and no. Added a short hedge just before market close!!
So holding longs fully hedged with shorts on ftse
Only shorts on dow
Dead cat bounce today ? Short term trend is still down….
Last weeks low 7291 is a stop area for longs. Trend is down but I am looking for a long entry hereclose to 7300. See what happens this afternoon. Gold seems to have topped for now.
Bounce day today given no nukes fired over the weekend. Bearish still as long as we remain below 7380 – 5 minute chart looking toppy in the 7350s for now. No interest in buy and hold until we see 7100-200 area. Let’s see how this plays out but at the minimum I’d expect a retest of 7300… Needs to break below there for the bigger move down
One third capital deployed long at 7340. Just a correction higher woukd do.
Sell zone now.. unlikely we clear 7380-90 area first time. Could be some pivot ping pong between 7300 and 7380 for a few days
Closed ftse longs
Taking a risk…lets see
Seems to be some weakness creeping in now….
If the Dow starts dropping back I’m guessing the Ftse will fall quite quickly…
Exponentially I would imagine….