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

Can the bulls defend 6860 for a rise towards 6960 today? | Brexit dominated week | learn to trade analysis

13th February 2018

Want to discuss things with other traders – please visit the free forum here for todays discussion

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.


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.

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