20th September 2018
That was a nice rise for our long at 7290 yesterday as the markets went risk on and the bulls finally managed to break the 7320 resistance level. Overnight we have seen, and dropped off from, the 7350 resistance level that had flagged up yesterday. If we remain bullish (i.e. 7320 holds as support ) then we should see 7395 shortly, and 7477 is also now showing on the radar.
U.S. Secretary of State Michael Pompeo called Wednesday for a new round of talks with North Korea, with the goal of achieving denuclearization by the end of President Donald Trump’s first term, saying he was heartened by progress made at a summit this week between the two Koreas.
Asian markets look set for a pause after rallying mid-week, as traders get used to the prospect of a prolonged U.S.-China trade war. U.S. stocks were mixed Wednesday, with investors assessing the latest developments in the varied trade disputes. Tech slumped while banks rose, lifting the Dow Jones Industrial Average to its highest since late January. Rate-sensitive shares fell as 10-year Treasury yields neared their peak for the year. Despite the yield gain, the dollar slid against most G-10 peers, amid concerns over Nafta talks between the U.S. and Canada.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am thinking that we will see a bit of risk on again and continue with yesterdays rise. The bulls need to break the overnight high at 7350 now as that opens up a trip to 7390/7400 area and at that point we may well see a bit of profit taking from the 7220 longs that have held thus far.
Membership
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
Results
I keep a record of all the trades communicated to members via the morning email trade plan and those alerted live. See the results here.
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
- Telegram Chat room and webinar group membership for discussion and realtime trade updates