11th April 2018 – FTSE 100 Trading signals
That was a nice rise from the 7215 level yesterday with the bulls managing to climb past the 7255 resistance area to test 7270. That bodes well for further upside towards 7315 and maybe 7350, despite the drop off overnight to 7240 as I am writing this.
The main event yesterday was Facebook’s Zuckerberg testimony on Capitol Hill. However, there are a lot of plates in the air that could cause an upset to markets, which is why we are seeing pretty volatile US sessions – Mueller, Syria, North Korea, China trade tariffs, to name just a few. We also have US inflation data and FOMC minutes due today, and also head towards earnings. China¹s factory inflation slowed for a fifth month while its consumer price index retreated from a four-year high.
FTSE 100 Trading Signals, Forecast and Prediction
Bit of a tricky one to call today as there are three resistance levels on the FTSE that look fairly prominent – 7262, 7286 and 7315. Above this 7350 is also resistance but not sure we will get that high today as not sure what would drive the FTSE up 100 points today. But you never know!
There is also fairly key S&P resistance at 2672 – it nearly managed this high yesterday but has dropped back from 2665 instead.
Bloomberg’s Asia Report here
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