4th April 2018 – FTSE 100 Trading signals
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A nice start to April with the Dax, FTSE 100 and S&P shorts all making decent points as the markets rallied, then dropped, then rallied again. Crucially the bulls kept the FTSE 100 above the 7000 level yesterday, and the US bulls managed a brief move above 24000 on the Dow. The S&P has remained above 2600, so there is some early stage bullishness kicking in after Monday’s rout. The FTSE bulls need to break 7060 and ideally a close above 7100 to start gaining some upward momentum. I am however still watching the 7120 level for resistance, but if we break above that then I would say that 6850 recent low may be it for the short term. There was a lot of bearishness last week, fear gauge was at 7, so usually a good time to buy!
However, the Asian markets were fairly subdued, failing to take impetus from the rebound on Wall Street yesterday. The ASX200 dipped and rose, and as long as 5721 holds as support should continue to climb.
FTSE 100 Trading Signals, Forecast and Prediction
Its a bit harder to call on the FTSE today but I am expecting a dip and rise day, and will be watching the support level at 6987 to see if that holds any test this morning. Despite the rise yesterday the bulls havent really pulled that far away from 7000 as yet, and the markets are still quite fearful. However, the S&P has gone more bullish and is showing support at 2595 today so if that holds then the FTSE should rise towards the 7080 and 7120 resistance levels. So an initial dip on the FTSE till the US drags it up later is my thinking.
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