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 maintain upper hand but 661 …

Please or Register to create posts and topics.

Bulls maintain upper hand but 6610 resistance | 6630 6670 above | 6560 support

#1 · 9th December 2020, 9:50 am

Quote from Nick on 9th December 2020, 9:50 am
FTSE 100 live outlook prediction analysis for 9th December 2020
In a relatively subdued day of trading as uncertainty circulated over the outcome of a Brexit trade deal – and traders await Boris Johnson’s trip to Brussels tomorrow – the FTSE 100 yesterday grabbed gains by the skin of its teeth. The benchmark flipped positive in the closing hour of trading after a day spent in the red, without even the historic first vaccination of a patient against Covid-19 enlivening the mood.
Amazon.co.uk Widgets
The blue-chip index ended up just 3.4 points at 6,558.8. European equities continued to see a mixed performance, centred on Brexit nerves.
The pound, meanwhile, erased early losses and briefly popped into positive territory after Britain said it had clinched a deal with the European Union over how to manage the Ireland-Northern Ireland border. By market close, sterling was trading 0.1pc down against the US dollar at $1.3364, having briefly risen to an intraday high of $1.3392.
Vaccine Questions
A vaccine developed by the University of Oxford and AstraZeneca provided protection against severe Covid-19, a peer-reviewed study found, although more analysis is needed to see how well it works in older people, among those at highest risk in the pandemic. It also shows only a limited ability to stop transmission of the coronavirus despite preventing Covid-19 illness in a majority of those who are infected. Meanwhile, Pfizer Inc.’s vaccine prevents symptomatic cases of the virus, but it’s not clear if the shot keeps the disease from being transmitted, according to the U.S. Food and Drug Administration. The world's first Covid shot has just been administered in the U.K.[Bloomberg]
(adsbygoogle = window.adsbygoogle || []).push({});
US & Asia Overnight from Bloomberg
Asian equities climbed after a fresh record for their U.S. counterparts, as hopes for a stimulus deal tempered concern about a surge in coronavirus cases. The dollar slipped with Treasuries.
Stocks rose across the region with the exception of Chinese shares which fluctuated after weak consumer price data. S&P 500 futures ticked up after the benchmark closed at an all-time high and European contracts pointed to gains. Treasury Secretary Steven Mnuchin presented a new $916 billion Covid-19 relief proposal to House Speaker Nancy Pelosi, who hailed progress in the negotiations though deemed parts of the plan as “unacceptable.” Earlier, the Nasdaq 100 advanced for a 10th straight day, the longest rally in about a year. Benchmark Treasury yields edged up to 0.94%.
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
The S&P bears tried to break the 3670 level however the bulls soon recovered and we were back testing 3700 which has broken overnight. The next bull target is the 3726 level where we have R1 and the key fib for today. It's certainly looking like a rise to that area is going to play out.
Initially for the FTSE 100 we have resistance at the 6600 level that we dropped off from on Monday, and we may well see a reaction here, or just above as there are a cluster of resistance levels at the 6610 area including the key fib. R1 is at the 6599 level as well so maybe a small overshoot of that. 6520 held as support again yesterday, and as with the S&P, the bears tried to break below but were rebuffed. Unfortunately it didnt quite get down to the 6500 area to test the bigger support.
With the rise yesterday everything remains bullish still, with a firmly bullish trend on the FTSE, S&P and Dax. The stimulus deals helping equites but weighing on gold at the moment.
For the FTSE then, as mentioned looking at the 6600-6610 area as initial resistance. Above this then R2 at 6629, and a possible rise as far as 6670 (R3) may well play out. At that stage we are just shy of the 20 day Raff channel top at 6695 and we may well see some profit taking here. Feels like we are already in the Santa Rally! Brexit deals of course may throw a spanner in the works though.
For support, 6560 is the 30m coral (green) and also the daily pivot. 6558 is also the green 2h coral, but not the first test as it was this that provided support yesterday at the 6520 level. As such should we get down to this then I am thinking that we will see a bounce here as there are a few key supports. Below this though and we are back looking at the 6520 level - neatly lining up with S1, 200ema and the key fib there. If that breaks though then 6486 is R2 and the bears will be keen to break below the 6500 level.
So a few levels of note. The ASX200 had a fairly flat session and we may well do the same as we consolidate a bit here. Watching 6560 for support and 6610 and 6630 as resistance. 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 FTSE 100, 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 FTSE, DAX, Gold and S&P.
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
[yikes-mailchimp form="4"]

FTSE 100 live outlook prediction analysis for 9th December 2020

In a relatively subdued day of trading as uncertainty circulated over the outcome of a Brexit trade deal – and traders await Boris Johnson’s trip to Brussels tomorrow – the FTSE 100 yesterday grabbed gains by the skin of its teeth. The benchmark flipped positive in the closing hour of trading after a day spent in the red, without even the historic first vaccination of a patient against Covid-19 enlivening the mood.
Amazon.co.uk Widgets
The blue-chip index ended up just 3.4 points at 6,558.8. European equities continued to see a mixed performance, centred on Brexit nerves.

The pound, meanwhile, erased early losses and briefly popped into positive territory after Britain said it had clinched a deal with the European Union over how to manage the Ireland-Northern Ireland border. By market close, sterling was trading 0.1pc down against the US dollar at $1.3364, having briefly risen to an intraday high of $1.3392.

Vaccine Questions

A vaccine developed by the University of Oxford and AstraZeneca provided protection against severe Covid-19, a peer-reviewed study found, although more analysis is needed to see how well it works in older people, among those at highest risk in the pandemic. It also shows only a limited ability to stop transmission of the coronavirus despite preventing Covid-19 illness in a majority of those who are infected. Meanwhile, Pfizer Inc.’s vaccine prevents symptomatic cases of the virus, but it’s not clear if the shot keeps the disease from being transmitted, according to the U.S. Food and Drug Administration. The world's first Covid shot has just been administered in the U.K.[Bloomberg]

(adsbygoogle = window.adsbygoogle || []).push({});

US & Asia Overnight from Bloomberg

Asian equities climbed after a fresh record for their U.S. counterparts, as hopes for a stimulus deal tempered concern about a surge in coronavirus cases. The dollar slipped with Treasuries.

Stocks rose across the region with the exception of Chinese shares which fluctuated after weak consumer price data. S&P 500 futures ticked up after the benchmark closed at an all-time high and European contracts pointed to gains. Treasury Secretary Steven Mnuchin presented a new $916 billion Covid-19 relief proposal to House Speaker Nancy Pelosi, who hailed progress in the negotiations though deemed parts of the plan as “unacceptable.” Earlier, the Nasdaq 100 advanced for a 10th straight day, the longest rally in about a year. Benchmark Treasury yields edged up to 0.94%.

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

The S&P bears tried to break the 3670 level however the bulls soon recovered and we were back testing 3700 which has broken overnight. The next bull target is the 3726 level where we have R1 and the key fib for today. It's certainly looking like a rise to that area is going to play out.

Initially for the FTSE 100 we have resistance at the 6600 level that we dropped off from on Monday, and we may well see a reaction here, or just above as there are a cluster of resistance levels at the 6610 area including the key fib. R1 is at the 6599 level as well so maybe a small overshoot of that. 6520 held as support again yesterday, and as with the S&P, the bears tried to break below but were rebuffed. Unfortunately it didnt quite get down to the 6500 area to test the bigger support.

With the rise yesterday everything remains bullish still, with a firmly bullish trend on the FTSE, S&P and Dax. The stimulus deals helping equites but weighing on gold at the moment.

For the FTSE then, as mentioned looking at the 6600-6610 area as initial resistance. Above this then R2 at 6629, and a possible rise as far as 6670 (R3) may well play out. At that stage we are just shy of the 20 day Raff channel top at 6695 and we may well see some profit taking here. Feels like we are already in the Santa Rally! Brexit deals of course may throw a spanner in the works though.

For support, 6560 is the 30m coral (green) and also the daily pivot. 6558 is also the green 2h coral, but not the first test as it was this that provided support yesterday at the 6520 level. As such should we get down to this then I am thinking that we will see a bounce here as there are a few key supports. Below this though and we are back looking at the 6520 level - neatly lining up with S1, 200ema and the key fib there. If that breaks though then 6486 is R2 and the bears will be keen to break below the 6500 level.

So a few levels of note. The ASX200 had a fairly flat session and we may well do the same as we consolidate a bit here. Watching 6560 for support and 6610 and 6630 as resistance. 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 FTSE 100, 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 FTSE, DAX, Gold and S&P.
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

[yikes-mailchimp form="4"]