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Bear Tuesday with earnings due | 7870 7850 7824 support | 7901 7932 7958 resistance

#1 · 25th April 2023, 9:37 am

Quote from Nick on 25th April 2023, 9:37 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 25th April 2023
The FTSE 100 ended Monday's session flat ahead of a busy earnings week, with investors looking to gauge the impact of monetary tightening on companies. The FTSE 100 closed flat at 7,912.20, while the mid-cap FTSE 250 was down 0.2pc at 19,226.94.
Base and precious metal miners extended losses into a fourth session and were the biggest drag on the commodity-heavy FTSE 100 on concerns about demand recovering in top-consumer China.
Stocks fell broadly, while the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.7% by 0220 GMT. Hong Kong's benchmark edged down 1.2%, while mainland stocks lost 0.7%.
Slightly annoying for the FTSE to just tease above the 7920 level again yesterday, but it's dropped back and potentially setting up a bear Tuesday now. The S&P failed to climb much also, and looks to be on a path down to test the 4100 area which may well see a bounce. Last chance salon in the short term there for the bulls to have another go at pushing it back up.
The news flow is interesting. While not massively bearish, lots of banks saying that now is the time to sell. Which usually means they want to hover up stock before we continue this climb into May....
For the FTSE we have a couple of resistance levels at the 7905 to start with, namely a now red 30m coral and the daily pivot. As such we could well see the bears have ago here for a drive down the 7870 level once again. This latter level is still quite a key support, and a break of that will likely lead to the 7850 area where we have decent support.
S2, the key fib and a couple of daily supports here should see the bulls have a go at defending it. This level may well align with the 4100 S&P500 support as well.
If the bulls can push above the 7905 level then 7940 is Fridays high and the next level of note, though yesterdays failure to get past the 7930 suggests a bit more weakness today. 7932 is also R1 for today so if seen then worth a short here too.
As mentioned yesterday we have a lot of news out this week with earnings etc so that is going to hold a lot of sway over the movements.
Below 7850 and the bears will be aiming for the 25ema on the daily at 7791 - and a possible swing long area presents itself so worth a long here. If it starts to bounce then you can always add to the stake as well.
At 3pm we have consumer confidence news out in the USA, forecasted at 104, slightly below last months.
Good luck today.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 25th April 2023

The FTSE 100 ended Monday's session flat ahead of a busy earnings week, with investors looking to gauge the impact of monetary tightening on companies. The FTSE 100 closed flat at 7,912.20, while the mid-cap FTSE 250 was down 0.2pc at 19,226.94.

Base and precious metal miners extended losses into a fourth session and were the biggest drag on the commodity-heavy FTSE 100 on concerns about demand recovering in top-consumer China.

Stocks fell broadly, while the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.7% by 0220 GMT. Hong Kong's benchmark edged down 1.2%, while mainland stocks lost 0.7%.

Slightly annoying for the FTSE to just tease above the 7920 level again yesterday, but it's dropped back and potentially setting up a bear Tuesday now. The S&P failed to climb much also, and looks to be on a path down to test the 4100 area which may well see a bounce. Last chance salon in the short term there for the bulls to have another go at pushing it back up.

The news flow is interesting. While not massively bearish, lots of banks saying that now is the time to sell. Which usually means they want to hover up stock before we continue this climb into May....

For the FTSE we have a couple of resistance levels at the 7905 to start with, namely a now red 30m coral and the daily pivot. As such we could well see the bears have ago here for a drive down the 7870 level once again. This latter level is still quite a key support, and a break of that will likely lead to the 7850 area where we have decent support.

S2, the key fib and a couple of daily supports here should see the bulls have a go at defending it. This level may well align with the 4100 S&P500 support as well.

If the bulls can push above the 7905 level then 7940 is Fridays high and the next level of note, though yesterdays failure to get past the 7930 suggests a bit more weakness today. 7932 is also R1 for today so if seen then worth a short here too.

As mentioned yesterday we have a lot of news out this week with earnings etc so that is going to hold a lot of sway over the movements.

Below 7850 and the bears will be aiming for the 25ema on the daily at 7791 - and a possible swing long area presents itself so worth a long here. If it starts to bounce then you can always add to the stake as well.

At 3pm we have consumer confidence news out in the USA, forecasted at 104, slightly below last months.

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