Can the bulls recapture 7650 | Trade war toned down | Learn to trade analysis

Markets rattled by trade again | SPX finally drops | 7240 7197 support | 7355 resistance

22nd June 2018

Once the 7605 broke then the bears seized on it for a dip down to 7550 as we head towards the 7500 level where we can expect a small bounce. Lots of negative sentiment, coupled with the trade war back drop and the FTSE declining from the 7705 resistance seen earlier in the week are weighing on markets. The Dax has dropped over 500 points this week, while the Dow’s eight day decline drops it down towards its 200 day moving average. Meanwhile, some White House officials are trying to restart talks with China to avoid a trade war before U.S. tariffs on Chinese products take effect July 6.


FTSE 100 Trading Signals, Forecast and Prediction

For today, there is initial resistance at 7594 from both the daily pivot and also the 100 Hull MA on the 2 hour, so any early strength that manages to reach this area could set up a short fro a run down towards the 7540 level. Should the bulls push above this level then I am looking at 7641 where we have a key fib and R1.

Bloomberg’s Asia Report here

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