25th April 2018 – FTSE 100 Trading signals – Learn to trade the markets
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The bears defended the 7432 resistance level well yesterday despite a stop hunt towards the bell that preceded a drop down to 7350 as the US dropped significantly again. 10 year bond yields breached the 3% line, plus weakness in industrial and technology stocks saw the US decline, with the S&P hitting a low of 2620. With that decline the 2 hour FTSE 100 chart is now bearish along with the other markets, showing resistance at 7422. The bulls will need to break this level and also defend the 7334 level today, otherwise we will drop down to the daily support at 7238 – swing long territory.
We have a 7.4 dividend today.
FTSE 100 Trading Signals, Forecast and Prediction
The weak bull that we had at the start of the week has dissipated now, and its looking like shorting the rallies is the preferred play for now. The FTSE actually held up pretty well yesterday, helped by cable dropping and holding below 140, despite the US sell off.
Dropping down to the daily support at 7250ish would actually all play out quite well, to then set up a climb towards 7500 before a bit of “sell in May and go away” kicks in.
Bloomberg’s Asia Report here
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