Dead cat bounce today so short the rallies | Trading analysis signals alerts

Sterling rises on latest polls | SP500 nears the 3126 resistance | 7160 7130 support | 7245 7300 resistance

23rd March 2018 – FTSE 100 Trading signals

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The FTSE 100 saw a drop bang off the 7029 resistance to some pretty impressive lows. Trade wars weighing on the markets and the repercussions of steadily increasing interest rates saw a mass exodus from the markets. I think however that we may well be at the beginning of some more significant downside for the foreseeable future. I am not one of these perma-bears always predicting doom and gloom, but it certainly looks like we will see lower prices and a drop down towards 6800.

In a ramping up of his America First ethos, Trump Thursday said he had ordered tariffs on $50 billion of Chinese imports as recompense for alleged intellectual property abuses. Hours later, China announced planned tariffs on imports of U.S. pork, recycled aluminum, steel pipes, fruit and wine, according to a Commerce Ministry statement on Friday.


FTSE 100 Trading Signals, Forecast and Prediction

In what is likely to be a choppy end to the week as the trade tariff news is properly digested and an exemption for Europe being announced, a bit of caution is probably wise today. There is a chance that the FTSE 100 falls further towards the 6810 support level, and I am expecting bit of a bounce here (but not a reversal of the downtrend that we are currently in). As such a risky (nay brave) long here is worth a go.

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