12th March 2018
FTSE 100 Trading signals
We ended last week strongly, with the NFP jobs report beating forecasts and injecting another dose of optimism into the markets as trade wars and tariffs took a back seat. It’s looking like the 2 hour support at 7090 we tested last Tuesday and Wednesday is the short term low and we might be on for a rise towards 7300 and possibly 7400. The NFP result was indicative of a strengthening economy, but without the prior months rapid wage gains that raised inflation fears. That said, the FTSE failed to push on to the 7265 resistance level I was watching on Friday, but that level is the top of the 10 day Raff channel for today so still worth watching.
FTSE 100 Trading Signals, Forecast and Prediction
For today the early signs are for more bullishness to build on the rises at the back end of last week. I am looking for a rise towards the top of the 10 day Raff at 7265, and possibly the 7301 20 day Raff above that. We have Fridays close at 7225 so a dip down to that and the pivot looks possible at the open.
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