23rd April 2018 – FTSE 100 Trading signals – Learn to trade the markets
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Markets have gapped up after the North Korea news that they are not looking to do further missile tests and want to be treated as a bonafide nation rather than the outsider. However, Asian stocks were mixed as trade discussions are still simmering away in the background. U.S. Treasury Secretary Steven Mnuchin said he’s considering a trip to China and that he’s “cautiously optimistic” of reaching an agreement that bridges their differences over trade.
Stocks fell on Friday in the U.S. as chipmakers remained under pressure. Treasury 10-year yields reached the highest since 2014, while WTI was flat after U.S. explorers cranked the rig count up to a three-year high and President Trump said in a tweet crude prices are “artificially very high.”
This week we have U.S. manufacturing and services sector PMIs. Later this week’s GDP and jobless claims, and also more earnings data. ECB rate decision on Thursday as well
FTSE 100 Trading Signals, Forecast and Prediction
While trade wars are still simmering away in the background, which will weigh on the markets, shorter term news is a bit more positive and looks like fuelling a rise on the FTSE, if the bulls can break the 7398 resistance level. As such if we get an early rise to this level then we may well see pull back from this resistance level back down towards the pivot and 2 hour support at the 7360 level. We may of course move down to this at the open but should see this level hold.
If the bears break below 7360 then there are a cluster of supports at the 7320 area and I expect this area to hold any test today. We may well see bit of a bull Monday today, fuelled by the S&P wanting to reach the resistance at 2703.
Bloomberg’s Asia Report here
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