21st March 2018 – FTSE 100 Trading signals
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That was a very slow rise on the FTSE 100 yesterday after the intake drop found support at the 7042 level, being Mondays closing price. The bulls couldn’t get it to the 7095 resistance level, let alone the 7125 area, stalling at 7083 before a small dip from there. The Dax did better, turning and dropping off the 12310 level having taken the short, though again the bulls were in the driving seat and brought the price back up. With the Dax, FTSE and S&P all holding their support yesterday we go into today looking more positive but with the Fed rate decision at 18:00 (an increase looking likely) and the press conference from Powell (at 18:30) we may well see a buy the rumour, sell the news day.
FTSE 100 Trading Signals, Forecast and Prediction
After a relatively flat day yesterday there isn’t much on offer today on the FTSE. There is now support on the 2 hour chart at 7066, and we are pretty much at the level we closed at. The 30min chart has a green trend line now with support at 7065, so a rise towards 7100 over the course of today looks the most obvious plan. The bulls will be keen to push above 7100 though, as they will want to be targeting 7250+ to invalidate the drop potentials to sub 7000.
The S&P is also showing more bullishness now, with support at 2715. The Dax also, with support at 12301.
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