25th September 2018
Was a pretty flat one on the FTSE 100 yesterday, and that carried through to the US session also with limited trading opportunities. The 7451 FTSE long managed a small bounce but with just a 30 point range all day, the sidelines were the most popular place to be. With the bulls failure to climb above the 7500 level seen on Friday, we have a bearish 2 hour chart now with resistance at 7474 and a decent shorting level here if seen. The Dax dropped off its 2 hour resistance yesterday at 12402, With 12436 above that for today.
Wall Street was also knocked by a report claiming that Rod Rosenstein, the US deputy attorney general overseeing the probe on Russian interference into the 2016 presidential election, will resign.
FTSE 100 Trading Signals, Forecast and Prediction
Though fairly flat there was a bit of weakness creeping in yesterday and in fact I have pretty decent resistance showing at the 7474 level for today, and we also have R1 at 7476. That said, I also have decent daily support showing at 7426 where we also have S2 so I think that we might see this area hold on any initial test.
The 30min chart has got a bearish (red) coral line now with resistance at 7460 to start things off as well, so we are heading into a fairly narrow range which will probably break today. Possibly break to the downside for a run down towards 7400.
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