Bulls still can’t break 7200 | 25 point dividend | Trading Technical Analysis

7348 resistance today | Expiry tomorrow | Consolidation | Learn to trade | Analysis

13th February 2018

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The bulls came out fighting yesterday and the 7145 area held as initial support for the FTSE to rise to 7200. However, they couldn’t really break that level with any conviction during the session, though a bullish US rebound helped later and saw the futures prices rise to test 7215 in the evening. It has since dropped back a bit below 7200, after the S&P retreated from its 2670 level. We have a large dividend tomorrow, being 25 points, so that may well underpin the bulls for the moment, along with a 2 hour chart that is showing support at 7130 for today.


FTSE 100 Forecast and Prediction

The bulls still need to convincingly break 7200 really, as a break of that will likely see a rise towards 7265. If they were able to push above that then a short term bottom is probably in at 6980, and we are on course for a rise towards the daily resistance at 7420ish.

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