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Bulls try but maybe dip and rise today | 7807 7800 7788 support | 7853 7890 7918 resistance

#1 · 28th April 2023, 8:09 am

Quote from Nick on 28th April 2023, 8:09 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 28th April 2023
The FTSE100 closed 0.27pc lower at 7,831.58. Drops by the oil majors helped to keep the index lower despite Barclays shares rising strongly on the back of a positive set of figures for the first quarter. The mid-cap FTSE 250 index closed 0.21 higher at 19,248.01. Meanwhile, sterling benefited from the dip in the dollar as a result of the GDP update.
Asian stocks rose on Friday as strong corporate earnings lifted sentiment despite lingering worries over economic weakness, while the yen dipped after the Bank of Japan kept rates ultra-low even as it announced a broad review of monetary policy.
A good dip buying session yesterday as the FTSE100 approached the daily EMA support at the 7800 area and subsequently bounced. Does make you wonder if that's the extent of the pull back for now, and we resume the upwards travel. End of the month today though so we may well see some profit taking later on, and also bear in mind that we have the bank holiday on Monday in the UK. Whilst the other markets are open the FTSE may well get pushed around a bit.
Initially today we may well get a rise to the 7890 level, 30 or so above where we are as I write this. 7890 looks like it might well be decent resistance initially as we have R1 and daily level here.
Above this then the top of the 10d Raff is at 7921, and also R2 here. As such, and as that level has been fairly key recently, we should see a falter here, if the bulls manage to break 7890.
Support wise, then the 7825 level is S1 and also the bottom of the 20d Raff channel. 7842 is above this though for a test of the 2h Hull MA. It's possible it overshoots that to test S1 and then bounces though. As it's Friday and all!
Should it get as low at 7805 then I would like to see this level hold, and the bulls start to build on the rise yesterday. The S&P500 had a decent session yesterday as the dip buyers piled in, and again it would be good to see that start to put in a bullish shift.
4080 is decent looking 2h support for the S&P500, so any drop down to there would likely hold. It's also just nearing the top of the 10d Raff at 4145 and the key fib here, so that could be an early resistance level for a drop down to the support.
15802 is 2h support for the Dax40, and again a drop down to that and then a rise would fit well.
We have a fair bit of news out today, so that may well generate some moves but keep a close eye on the key levels mentioned. Don't forget no email Monday, stay nimble today as its Friday and have a great weekend!
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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.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 28th April 2023

The FTSE100 closed 0.27pc lower at 7,831.58. Drops by the oil majors helped to keep the index lower despite Barclays shares rising strongly on the back of a positive set of figures for the first quarter. The mid-cap FTSE 250 index closed 0.21 higher at 19,248.01. Meanwhile, sterling benefited from the dip in the dollar as a result of the GDP update.

Asian stocks rose on Friday as strong corporate earnings lifted sentiment despite lingering worries over economic weakness, while the yen dipped after the Bank of Japan kept rates ultra-low even as it announced a broad review of monetary policy.

A good dip buying session yesterday as the FTSE100 approached the daily EMA support at the 7800 area and subsequently bounced. Does make you wonder if that's the extent of the pull back for now, and we resume the upwards travel. End of the month today though so we may well see some profit taking later on, and also bear in mind that we have the bank holiday on Monday in the UK. Whilst the other markets are open the FTSE may well get pushed around a bit.

Initially today we may well get a rise to the 7890 level, 30 or so above where we are as I write this. 7890 looks like it might well be decent resistance initially as we have R1 and daily level here.

Above this then the top of the 10d Raff is at 7921, and also R2 here. As such, and as that level has been fairly key recently, we should see a falter here, if the bulls manage to break 7890.

Support wise, then the 7825 level is S1 and also the bottom of the 20d Raff channel. 7842 is above this though for a test of the 2h Hull MA. It's possible it overshoots that to test S1 and then bounces though. As it's Friday and all!

Should it get as low at 7805 then I would like to see this level hold, and the bulls start to build on the rise yesterday. The S&P500 had a decent session yesterday as the dip buyers piled in, and again it would be good to see that start to put in a bullish shift.

4080 is decent looking 2h support for the S&P500, so any drop down to there would likely hold. It's also just nearing the top of the 10d Raff at 4145 and the key fib here, so that could be an early resistance level for a drop down to the support.

15802 is 2h support for the Dax40, and again a drop down to that and then a rise would fit well.

We have a fair bit of news out today, so that may well generate some moves but keep a close eye on the key levels mentioned. Don't forget no email Monday, stay nimble today as its Friday and have a great weekend!

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