18th June 2018
Friday saw the FTSE come off from its 7770 level as trade wars came back to the fore as the US imposed $50bn of tariffs on Chinese imports. The dollar moved higher and oil dropped. However, the 7630 level was defended and has now set up a double bottom with Sunday nights lows, so we may well see a rise towards the 2 hour resistance at 7709 today. For the bears, I have mentioned 7610 as a key support level a few times in the past few weeks and we may well see that should the 7630 level break today.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am looking at two main areas – support at 7610 and resistance at 7709 or just below. We also have the 200ema on the 30min at 7704 so there are a couple of resistance levels here that are worth watching in case they stall any bullishness today. We have the 2 hour coral as resistance also at 7718 today.
Bloomberg’s Asia Report here
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