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33 point dividend and a rise towards 7195 and possibly 7240 | 7150 7130 support

FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis

FTSE 100 live outlook prediction analysis for 11th August 2021

FTSE100 followed the arrows well yesterday as we got the dip down towards 7100 and then a decent rise. My gold long from yesterday is still running with the stop now at 1723.

We have at the large dividend (33 points) being applied today so as per yesterday this will help underpin the bulls today and we should see a test of the 7197 daily resistance. The recent rise has put both the Raff channels heading up, with the top of the 10 day now at 7245. That ties in with the next daily level of 7235 so this area is worth watching (and probably worth shorting if seen).

We have the key fib at 7205 for today ad R1 ties in with the daily level at 7195 so we may well see a stutter this morning at this area before more upside later this afternoon. We have the US inflation report later which may well help the bulls defend the S&P support around the 4423 and 4412 levels. The latter is rather key as a break of that could get things quite bearish for the middle part of August.

Initial support is at the daily pivot at 7155 and we have the Hull MA on the 2h at 7147 as well. but below here then the 200ema and S1 level of 7130 should hold any drop. 7136 is also the green 2h coral though not the first test.

Good luck today and don't forget the dividend later.

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Asian Session

Asian stocks were mixed Wednesday as investors awaited a key report on U.S. inflation. Treasuries and the dollar were steady. Shares saw modest gains in Japan and Australia. Stocks in Hong Kong and China were little changed, while those in South Korea retreated after the country posted a record number of coronavirus cases. U.S. futures fluctuated. Earlier, the S&P 500 climbed to an all-time high, while the tech-heavy Nasdaq 100 declined. Crude oil was steady after bouncing from a three-week low as a report showed shrinking inventories.

Data out Wednesday are expected to show prices paid by U.S. consumers grew in July at the slowest pace in five months, though remain elevated.

The US Senate has passed President Biden's $1 trillion infrastructure with a  69-30 vote, which will be seen as a victory for the White House and the bipartisan group of senators who spent months negotiating it. The bill would represent the biggest burst of spending on US public works in decades and a significant victory for Joe Biden’s economic agenda. [Bloomberg]

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