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

ForumTrading Forum with market discussion and live trades: Market DiscussionBull Monday with bulls keen to pu …

Please or Register to create posts and topics.

Bull Monday with bulls keen to pull away from 7900 | 7933 7960 7989 resistance | 7853 support

#1 · 27th February 2023, 10:38 am

Quote from Nick on 27th February 2023, 10:38 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 27th February 2023
Check out IG for trading https://refer.ig.com/iA6I8q
Asian shares hit two-month lows on Monday as markets were forced to price in ever-loftier peaks for U.S. and European interest rates, slugging bonds globally and underpinning the dollar near multi-week highs. Investors are braced for more challenging U.S. data including the closely watched ISM measures of manufacturing and services, the latter being especially important following January's startling spike in activity.
We have another large dividend this week of 18 points on the FTSE100, which may well help the bulls a bit to start the week. It looks like a dip and rise again today may well be the order of the day, and the 7850 level showing as decent support should the bears break it below the 7900 level.
We have some more key news out this week with the US ISM, and with inflation remaining stubbornly high focus will be remaining on interest rate increases.
Initially today we may well see a dip lower despite the fact that the FTSE100 charts look more optimistic than the Dax40 and S&P500. The 2h chart is bullish to start with, following the bounce Friday from 7870, and has support at 7890 to start with, so it will be interesting to see if the bulls are quick out the blocks today.
We are hovering around the daily pivot to start with at 7910, and then the next resistance level is 7934 where we have the 30m 200ema, along with the as yet untested red 30m coral here.
Above this the 7960 key fib is just above R1 at 7950, and the bulls would be keen to push on on any strength today and pull away from the 7900 level. The next daily level of note above that is 7985 and also aligns with R2 at 7989 so there are a few stumbling blocks in play at the moment which might scupper a clear run at 8000.
Should the bears break below the 7850 level though then the next daily support level is 7796 below that, and a level that the bulls would certainly be keen to defend.
The January exuberance has worn off a bit since the test of the 8050 level, though it is still being quite resilient, and could well be building a bigger base for a push back up towards 8100 next month, possibly even 8200. The 20d Raff channel continues to head up, though with this recent slide the 10 day is looking more bearish with the channel heading down. A lot will depend on the US over the next few weeks and it's worth keeping a close watch on their housing market once again. There are plenty of signs of a severe downturn in US property, with home sales down for 12 straight months in a row, the weakest set of numbers for more than a decade. Prices are starting to fall and mortgage arrears are starting to climb - two things that will unsettle the masses.
So, pitching for a dip and rise today and would like to see the 7850 level hold on any significant drop down. However, do watch for a hold of the 7890 2h support instead...
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

FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 27th February 2023

Check out IG for trading https://refer.ig.com/iA6I8q

Asian shares hit two-month lows on Monday as markets were forced to price in ever-loftier peaks for U.S. and European interest rates, slugging bonds globally and underpinning the dollar near multi-week highs. Investors are braced for more challenging U.S. data including the closely watched ISM measures of manufacturing and services, the latter being especially important following January's startling spike in activity.

We have another large dividend this week of 18 points on the FTSE100, which may well help the bulls a bit to start the week. It looks like a dip and rise again today may well be the order of the day, and the 7850 level showing as decent support should the bears break it below the 7900 level.

We have some more key news out this week with the US ISM, and with inflation remaining stubbornly high focus will be remaining on interest rate increases.

Initially today we may well see a dip lower despite the fact that the FTSE100 charts look more optimistic than the Dax40 and S&P500. The 2h chart is bullish to start with, following the bounce Friday from 7870, and has support at 7890 to start with, so it will be interesting to see if the bulls are quick out the blocks today.

We are hovering around the daily pivot to start with at 7910, and then the next resistance level is 7934 where we have the 30m 200ema, along with the as yet untested red 30m coral here.

Above this the 7960 key fib is just above R1 at 7950, and the bulls would be keen to push on on any strength today and pull away from the 7900 level. The next daily level of note above that is 7985 and also aligns with R2 at 7989 so there are a few stumbling blocks in play at the moment which might scupper a clear run at 8000.

Should the bears break below the 7850 level though then the next daily support level is 7796 below that, and a level that the bulls would certainly be keen to defend.

The January exuberance has worn off a bit since the test of the 8050 level, though it is still being quite resilient, and could well be building a bigger base for a push back up towards 8100 next month, possibly even 8200. The 20d Raff channel continues to head up, though with this recent slide the 10 day is looking more bearish with the channel heading down. A lot will depend on the US over the next few weeks and it's worth keeping a close watch on their housing market once again. There are plenty of signs of a severe downturn in US property, with home sales down for 12 straight months in a row, the weakest set of numbers for more than a decade. Prices are starting to fall and mortgage arrears are starting to climb - two things that will unsettle the masses.

So, pitching for a dip and rise today and would like to see the 7850 level hold on any significant drop down. However, do watch for a hold of the 7890 2h support instead...

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