Dip and Rise today but looking more and more bearish | FTSE 100 Trading Signals

Bull Monday to continue with 7375 74150 resistance today | 7305 7250 support | Tory lead polls

19th March 2018 – FTSE 100 Trading signals

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Friday saw the FTSE 100 put in a bit of an end of week recovery to exactly the 7188 level before dropping back. Overnight has seen a mixed Asian session, with the FTSE 100 futures dropping down to 7130 (Fridays in hours low) and then bouncing back a bit to 7150. It’s a bit of a confusing picture on the FTSE 100 at the moment, as it look like it should be heading lower yet it is almost like it needs a catalyst to trigger the move. If it were to get bearish then it looks like 6915 and 6800 are on the cards. The bulls need to better the 7370 area which is daily resistance to invalidate the bearishness.


FTSE 100 Trading Signals, Forecast and Prediction

The charts looks messy today! We have the Fed meeting minutes on Wednesday as the big event this week, with it being Powell’s first. Powell and fellow policy makers meet on Tuesday and Wednesday with financial markets pricing a rate increase with certainty. Thirty minutes after the decision is announced, Powell will explain it and present an outlook to reporters.

Initially it looks like we will get a dip down again to start the week, with the S1 level at 7123 and then the key fib level at 7111 below that. We would also see another test of the 2 hour support at 7126 if we do dip to this area, so there is a bit of a case for a bounce from here. If it were to really motor down then the 10 day Raff channel and S3 at the 7060 level are more than likely to be tested.

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