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Bear Tuesday on Rishi's first full day | 7000 6950 6920 support | 7055 7087 7130 resistance

#1 · 25th October 2022, 9:33 am

Quote from Nick on 25th October 2022, 9:33 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 25th October 2022
A favourable reaction from both the FTSE100 and sterling yesterday on Rishi being confirmed as PM, and a crack and hold of the 7000 level to see a decent bull Monday. Cheeky little stop hunting spike down though to 6915 before the rise started though!
Initially today I think we will get a kick up again to shake off the overnight weakness emanating from Asia, though the 7050 level remains the line in the sand that the bulls need to crack. 7055 is also the key fib to start with today so we could see a reaction here again, for a drop down to have a bear Tuesday play out for the bulk of the session.
Above the 7055 level then 7087 is R1, though the bulls will ultimately be aiming for the 7200 level as soon as possible. This level is fairly key really and a move above that bodes well for continued upside during the remainder of the year. On the way to that though is the daily coral at 7135 and I am keeping an eye on this resistance line as we will likely get a reaction off this. Not expecting that high today but short it if seen.
We will also start to get near the top of the Raff channels, with the 20day the first one in the way at 7170. Might be a big ask to push that high today, but maybe later this week.... slowing of interest rate rise starting with the ECB could be a good catalyst!
For the bears, they will be looking to break below the daily pivot at 7000 which is the first key support for today, tying in with the significant round number.
If they manage to do so then 6950 is my next major support with the S1, key fib and 200ema 30m all in this area. As such I would like to see any drop down to this level hold. It would also be another test of the 2h green coral.
A break of 6950 isn't a good sign though as that would likely tee up a slide down to the 6900, but probably 6850 over the course of the week.
Personally I am maintaining a more bullish bias for the moment and the seasonality seems to be playing out pretty well so far in October. Chart here
Good luck today.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 25th October 2022

A favourable reaction from both the FTSE100 and sterling yesterday on Rishi being confirmed as PM, and a crack and hold of the 7000 level to see a decent bull Monday. Cheeky little stop hunting spike down though to 6915 before the rise started though!

Initially today I think we will get a kick up again to shake off the overnight weakness emanating from Asia, though the 7050 level remains the line in the sand that the bulls need to crack. 7055 is also the key fib to start with today so we could see a reaction here again, for a drop down to have a bear Tuesday play out for the bulk of the session.

Above the 7055 level then 7087 is R1, though the bulls will ultimately be aiming for the 7200 level as soon as possible. This level is fairly key really and a move above that bodes well for continued upside during the remainder of the year. On the way to that though is the daily coral at 7135 and I am keeping an eye on this resistance line as we will likely get a reaction off this. Not expecting that high today but short it if seen.

We will also start to get near the top of the Raff channels, with the 20day the first one in the way at 7170. Might be a big ask to push that high today, but maybe later this week.... slowing of interest rate rise starting with the ECB could be a good catalyst!

For the bears, they will be looking to break below the daily pivot at 7000 which is the first key support for today, tying in with the significant round number.

If they manage to do so then 6950 is my next major support with the S1, key fib and 200ema 30m all in this area. As such I would like to see any drop down to this level hold. It would also be another test of the 2h green coral.

A break of 6950 isn't a good sign though as that would likely tee up a slide down to the 6900, but probably 6850 over the course of the week.

Personally I am maintaining a more bullish bias for the moment and the seasonality seems to be playing out pretty well so far in October. Chart here

Good luck today.

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 and Live Trading

If you would like more detailed analysis for FTSE100, 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 FTSE100, DAX40, Gold and S&P500.
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

Keep up to date with new content, free sign up below with just your email address

#mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; }
/* Add your own Mailchimp form style overrides in your site stylesheet or in this style block.
We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. */

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