FTSE 100 live outlook prediction analysis for 22nd June 2021
Great bounce off the S1 level at 6950 yesterday and it will now be up to the bulls to keep that momentum going. Getting the price back above 7000 bodes well in the short term and to start with today we have decent looking support at the 7050 level with the 2hour Hull moving average line here and also the daily pivot, and a green 30m coral line. As such we could see a dip and rise play out then a bit of Bear Tuesday to kick in later.
For the S&P500 there is good support to start with at the 4215 level which would be a back test of the 200ema on the 30m, and should coincide with the green 30m coral in the next hour or two as it’s rising pretty well. If that level holds then we should see a move up towards R1 at 4257, but again, we could see some profit taking and a bit of bearish reaction here. May well. tally with the FTSE100 hitting its R1 as well at 7137. Below 4215 the next main support is 4195 on the 2h chart and then S1 at 4168. The bulls will be keen to hold onto the gains though.
Back to the FTSE100 and below the 7040 a slide down to S1 and the key fib at 6992 may well happen, and the bulls will start to lose the momentum again. Below that 6950 is the bottom of both the Raff channels and then the 6906 support level mentioned on Friday are next up. That would indeed be quite a bear Tuesday if we slide back down to 6950 though, but it does set up a double bottom with Fridays low. Worth a long here if it were to be seen.
If the bulls push past the 7137 level today then 7175 is again the main resistance, with that 7200 level above that. Maybe a bit of a big ask to get that high today though!
We do have the BoE interest rate decision on Thursday but no changes likely.
So, looking for a bit more upside today before a bit of profit taking later at that R1 level on the FTSE, Dax and S&P – 7137, 15780, 4257 respectively. Good luck today.
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
Asian Session
Asian stocks rose Tuesday, tracking a U.S. equity rebound, as the prospect of gradual policy tightening tempered concerns over the Federal Reserve’s hawkish tilt. Treasuries and the dollar stabilized after a retreat.
Japanese shares outperformed, helping a gauge of Asia-Pacific stocks to the biggest climb in about three weeks. S&P 500 contracts edged up after the index rallied overnight, aided by a revival of the value trade in sectors like energy and financials. European equity futures were also in the green.
Yields on longer-dated Treasuries rebounded in the U.S. session Monday, even as short-end rates remained firmly anchored. That undid some of the curve-flattening that swept across markets after Fed officials last week accelerated their expected pace of policy tightening.
Brent oil hit $75 a barrel for the first time since April 2019. The dollar trimmed some of its slide from U.S. hours. Bitcoin sank closer to $30,000 after China intensified its cryptocurrency clampdown.
Investors striving to assess the outlook for markets are focused on price pressures and the risk they may pose to the economic recovery from the pandemic. The shift in the Fed’s tone has put the spotlight on the comments coming from policy makers this week.
Chair Jerome Powell, in written remarks, reiterated inflation had picked up but should move back toward the U.S. central bank’s 2% target once supply imbalances resolve. New York Fed President John Williams also said he continues to view the recent spike in inflation as a temporary phenomenon. [Bloomberg]
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