Discussion Forum for trading analysis, help, signals and trading

Discussion Forum for trading analysis, help, signals and learning how to trade. Chat with other traders , post analysis, trades and ask questions. This is the public part of my website. For more in-depth discussions please consider joining to chat with other members

Forum Navigation
Please or Register to create posts and topics.

7100 7075 support | 7133 7170 resistance | New month money | Trading analysis chat room discussion

1st March 2019

The buoyant US economy resisted the global slowdown at the end of 2018, recording its strongest annual growth since 2005. Growth remained robust at an annualised rate of 2.6pc in the final quarter despite the industrial slump taking hold in China and the eurozone. The stronger-than-expected figures, which were delayed by the US government shutdown, showed that a spike in business investment helped its annual growth accelerate to 2.9pc last year, the joint-strongest expansion in 13 years.

Wall Street opened flat despite the strong figures while the FTSE 100 was weighed down by growth in Chinese factories continuing to deteriorate. China's struggling manufacturing sector contracted for a third straight month in the country's official manufacturing PMI index with the gauge sinking to a three-year low. The FTSE 100 closed 0.2pc lower.

U.S. Stocks Post First 3-Day Slide of Year

The S&P 500 fell for a third consecutive day for the first time this year as lingering concerns over trade and geopolitical risks offset a report showing the economy cooled by less than expected last quarter. The dollar climbed and Treasury yields increased. “With this positive momentum, investors are just looking for a little bit of a pause,” said Gene Goldman, chief investment officer at Cetera Investment Management. “Now on the docket is what’s next? We had some data reports and GDP today, but that’s still two month-old data, so investors need some more news.”

Trade Deal Near?

The U.S. and China are on the cusp of a “historic” agreement that would commit Beijing to cut subsidies for state-owned companies and disclose when its central bank intervenes in currency markets, Larry Kudlow, director of the White House’s National Economic Council, said in an interview Thursday on CNBC.

Another Summit?

North Korean leader Kim Jong Un vowed to meet again with President Donald Trump to continue nuclear negotiations after a two-day summit between the leaders collapsed Thursday amid discord over sanctions and conflicting accounts of Pyongyang’s demands.


(adsbygoogle = window.adsbygoogle || []).push({});

FTSE 100 Trading Signals, Forecast and Prediction

It's the start of the new month and the bulls have regained some composure after that drop yesterday to 7040 and have brought the FTSE 100 back up above 7100. There is initial resistance as I write this at 7120 from the fib level and 200ema on the 30min. The bulls will need to break above this for a rise towards the next main resistance levels at the 7165/70 area. There is also a daily resistance level at 7180, so for my short I have put the stop just above this.

For the new month so we will more than likely see a bit of bullishness, at least to start with, as the new month money flows into the various funds. That said, I am watching those resistance levels closely, as its not a given that we just climb at the open.

[caption id="attachment_14625" align="aligncenter" width="821"]FTSE 100 Trading Signals, Forecast and Prediction FTSE 100 Trading Signals, Forecast and Prediction[/caption]

Back to the FTSE and we have decent looking support at the 7075 level. Yesterdays closing price, daily pivot and 2 hour support all here, so if we do see a dip down from the 7120 level to here, this area looks good for a buy today. I actually feel pretty confident that we see a lot more upside on the FTSE 100, especially as we held that lower 10 day Raff channel at 7040 yesterday. The daily chart is still bullish and that 25ema support is still at 7094. Should the bears break the 7075 level today then we are looking at a drop to 7021, if they break 7040 yesterday low.  Below that then 6967 looks like a decent bounce point if seen, as the bulls will be keen to get the FTSE 100 back above 7000.  Keep watching for 6967 over the next few sessions as it may well be tested - maybe next week.

So, new month so expect an initial kick up 7120 and 7133 are the first resistance levels but probably not worth trading off. 7170 area higher up looks better, while 7075 as a support looks pretty decent for today. Good luck and have a great weekend.

Recommended Broker


IC Markets - offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!

Membership

If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.

What you get

  • Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
  • Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
  • Telegram live trading room and webinar group membership for discussion and realtime trade updates