Quote from Nick on 10th March 2022, 10:01 am

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

The FTSE 100 pushed sharply higher as global stocks staged a strong rebound after days of turmoil over Russia’s invasion of Ukraine.

The blue-chip index gained 3.2%, with heavyweight banks leading the rise as oil prices eased and investors looked to snap up beaten-down stocks.

The rally spread across Europe, with Germany’s Dax index surging 7.9pc in its biggest jump since March 2020. The French Cac 40 was also up more than 7pc.
Meanwhile, Wall Street’s main indices rose more than 2pc as investors piled into banking and tech stocks.

Korea's Tight Race
In one of the closest presidential races in South Korea's history, Yoon Suk-yeol defeated the ruling party’s Lee Jae-myung, returning the conservative opposition to power. His win signals a closer embrace of the country's military alliance with the U.S. — and a chill in relations with China and North Korea, analysts say. Economic issues were a top concern for voters, with housing prices doubling in Seoul during lame duck Moon Jae-in's term. Yoon, a former top prosecutor who had never before sought elected office, had promised on the campaign trail to narrow the income gap. He takes office May 10.

Ukraine Health Attacked
A siege on the Ukrainian city of Mariupol has trapped about 400,000 people as international organizations warn of a humanitarian crisis. Other towns near Kyiv are struggling to evacuate. The WHO verified 18 attackson health services, including buildings, health workers and ambulances, which have killed at least 10 and injured 16. President Volodymyr Zelenskiy said on Twitter that a Russian air strike had hit a maternity hospital in Mariupol.
U.S. Vice President Kamala Harris is on a three-day tour through Poland and Romania to discuss the next steps the U.S. and its allies should take to support Ukraine and punish Russia. The U.S. is weighing sanctions against Russian nuclear power supplier Rosatom, and the House of Representatives is poised to approve $13.6 billion in aid to Ukraine.

Amazon's Split
One big overnight mover was Amazon, which surged more than 10% in late trading after announcing a 20-to-1 stock split and a $10 billion buyback, before falling back. Like Alphabet, which announced a split in February, Amazon’s plan to boost outstanding shares — and lower their price — removes a key hurdle for inclusion in the price-weighted Dow Jones Industrial Average.

FTSE 100 live outlook prediction analysis for 10th March 2022

Quite the rally yesterday as expected when I was writing the email first thing as the buy the dippers grabbed the bull by the horns so to speak. We also saw a welcome drop in the oil price which will hopefully continue and filter through to pump prices shortly. Always quick to rise but slightly slower to drop! The shambles that is Putins invasion still looks like a folly though the Western response must be hurting a bit now as more companies continue to withdraw from Russia.

For the FTSE100 today then we may well see some more upside though the main news event is the inflation data in the USA at 1330. As such we may have a bit more chop again today, especially as the S&P has stalled overnight at the 4270 key area. The bulls will want to defend this level as it opens up a push towards the 4329 R1 level. A break of this support and we will likely see a slide down to the 2h Hull MA at 4195. Should the S&P500 get that low then a long here is worth a go.

For the FTSE100, we have initial support form the daily pivot at the 7136 level and if the bulls can defend that then we should see a rise towards R1 for this also, at the 7260 level. That is just below the daily resistance of 7280, and also the recent high last Friday at 7270. As such should we get this high then the bulls may well face some strong resistance from the bears here.

The Dax, FTSE and S&P all look like they want an opening drop to the pivot and it will be up to the bulls to defend first thing.

Gold continues to lead the way in these markets and actually started to see off prior to the equity rally yesterday so continue to keep an eye on that. Its dropped off below 2000 and looks like it may well drop down to the bottom of the 10 day Raff channel at 1950 next. If so, then we should see a bit higher still on equities.

If the FTSE bears break below the 7136 daily pivot then a slide as low as the 2h supports at 6950 may well play out - if so then again, a long off this level is worth a go. Not sure we see that low today but you never know when its volatile so keep a close look out for it.

Prior to that we do have the 200ema on the 30m at 7096.

For the bulls, if they manage to push up to R1 then that will be a decent rise from the lows and profit taking here may well make sense. Above the 7280 level though and 7300 is next up, with the top of the 10d Raff channel here. Just above this is daily resistance at 7325 and then 7380 above that. Again, a move of that size from where we are is usually a big ask but another strong day like yesterday could well see another 2% gain....

So, be prepared for a slightly choppy day with the inflation news at 1330. Watch 7136, 7100, 7000, 6950 as the main supports. 7260, 7280, 7300 as the main resistance levels to start with!

Good luck today.

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