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 DiscussionBulls fail to build | UK Inflatio …

Please or Register to create posts and topics.

Bulls fail to build | UK Inflation still high | 7890 7875 7850 support | 7929 7968 resistance

#1 · 19th April 2023, 8:48 am

Quote from Nick on 19th April 2023, 8:48 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 19th April 2023
Stocks eased on Wednesday, while the dollar was under a little pressure, as traders shifted focus from U.S. banking stress to expectations for an imminent peak in the Federal Reserve’s interest rate cycle.
MSCI’s index of Asia shares outside Japan dropped 0.5% to retreat further from Monday’s two-month high, and in morning trade Japan’s Nikkei looked set to snap an eight-day winning streak with a modest 0.4% loss.
Overnight, the S&P 500 scraped a 0.1% gain. Bank of America’s first-quarter profit beat forecasts, and shares rose, following strong results at rivals that seem to have soothed market concerns about the sector’s stability.
Felt like we looked at 7900 all day yesterday, despite the SPX moves. For today the bulls will need to break above the 7925 area as we now have 2h Hull resistance there, and if they do then that keeps alive hope for a possible test of the 7970 level. That area still looks like a decent shorting spot.
Meanwhile the bears will be looking to take this down below the 7890 level where we have S1 to start with, but then 7875 comes into view as support with the 30m 200ema here. That is also just above the 7866 S2 level.
With the bulls failure to break above 7915 yesterday the 2h chart has gone bearish again and it's possible that we are in the leg down towards the 7750 area for a test of the daily 25ema.
I have been somewhat optimistic with the arrows today and ideally would like to see a rise to that 7970 level. However, with inflation data just out showing a slight drop, but still above 10%, it might weigh on the FTSE100.
The S&P500 really needs to push up towards the 4175 level again really, though that area feels like it could set up a decent double top for a further slide. The bulls need to defend the 4137 to start with as we have S1 and the 30m 200ema here.
The Raffs continue to head up on the FTSE100 and the bottom of the 10d is at 7890 (timing in with S1) for today so a bounce here, at least initially would fit well.
Likewise with the S&P & Dax - the Raffs are heading up so a drop down to the bottom of the channels that you can see on the daily charts below would be worth tentative longs.
So, possibly a rise and dip to play out today. 7925 and 7970 the key resistance levels, 7890, 7875 and 7851 as the main supports.
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 19th April 2023

Stocks eased on Wednesday, while the dollar was under a little pressure, as traders shifted focus from U.S. banking stress to expectations for an imminent peak in the Federal Reserve’s interest rate cycle.

MSCI’s index of Asia shares outside Japan dropped 0.5% to retreat further from Monday’s two-month high, and in morning trade Japan’s Nikkei looked set to snap an eight-day winning streak with a modest 0.4% loss.

Overnight, the S&P 500 scraped a 0.1% gain. Bank of America’s first-quarter profit beat forecasts, and shares rose, following strong results at rivals that seem to have soothed market concerns about the sector’s stability.

Felt like we looked at 7900 all day yesterday, despite the SPX moves. For today the bulls will need to break above the 7925 area as we now have 2h Hull resistance there, and if they do then that keeps alive hope for a possible test of the 7970 level. That area still looks like a decent shorting spot.

Meanwhile the bears will be looking to take this down below the 7890 level where we have S1 to start with, but then 7875 comes into view as support with the 30m 200ema here. That is also just above the 7866 S2 level.

With the bulls failure to break above 7915 yesterday the 2h chart has gone bearish again and it's possible that we are in the leg down towards the 7750 area for a test of the daily 25ema.

I have been somewhat optimistic with the arrows today and ideally would like to see a rise to that 7970 level. However, with inflation data just out showing a slight drop, but still above 10%, it might weigh on the FTSE100.

The S&P500 really needs to push up towards the 4175 level again really, though that area feels like it could set up a decent double top for a further slide. The bulls need to defend the 4137 to start with as we have S1 and the 30m 200ema here.

The Raffs continue to head up on the FTSE100 and the bottom of the 10d is at 7890 (timing in with S1) for today so a bounce here, at least initially would fit well.

Likewise with the S&P & Dax - the Raffs are heading up so a drop down to the bottom of the channels that you can see on the daily charts below would be worth tentative longs.

So, possibly a rise and dip to play out today. 7925 and 7970 the key resistance levels, 7890, 7875 and 7851 as the main supports.

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