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 DiscussionBuy the dip still | 7642 7676 res …

Please or Register to create posts and topics.

Buy the dip still | 7642 7676 resistance | 7540 support | Oil stays below $100

#1 · 8th April 2022, 3:17 pm

Quote from Nick on 8th April 2022, 3:17 pm
FTSE 100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
The FTSE 100 remained firmly in the red after minutes of the Federal Reserve’s last policy meeting provided more clarity on the central bank’s campaign to quell rampant inflation. London's leading index dropped 0.5pc to 7,551 at close. After hours though and it was a different story with the price being pumped back to the 7620 level where the rise faltered.
Asian stocks and U.S. equity futures struggled to make headway Friday as the Federal Reserve’s plan for aggressive policy tightening and China’s Covid lockdowns hung over markets.
Shares fell in Japan and fluctuated in Hong Kong and China, while S&P 500 and Nasdaq 100 contracts were steady. Global equities are nursing losses for the week, hurt by the risk of an economic downturn as the Fed tackles inflation.
Chinese technology stocks slid for a third day on Tencent Holdings Ltd.’s move to shut a game streaming service. In India, the 10-year bond yield hit 7%, the highest since 2019, as its central bank boosted an inflation forecast.
Treasuries were mixed and the bond curve remained steeper in the wake of the Fed minutes Wednesday, which outlined plans to pare the central bank’s balance sheet by more than $1 trillion a year alongside interest-rate hikes.
A dollar gauge was in sight of its highest level since 2020. Oil fell, squeezed by plans to release millions of barrels of crude from strategic reserves and China’s demand-sapping virus outbreak.
FTSE 100 live outlook prediction analysis for 8th April 2022
The futures have managed to hold onto the overnight gains since the close yesterday and we continue to remain around the 7600 area. 7620 is still the line in the sand for the moment, and the bulls will be keen to break this. However, we have the 7631 level as daily resistance just above this, and then the R1 and key fib at 7642. As such the bulls may well struggle to pop through this today.
Initially we may well get a drop off to start with down to retest the 7540 level as we have decent support here with the bottom of the 10d Raff. These Raff channels continue to head up not he FTSE100 so continuing to buy the dip is still a good plan on the bigger picture. The FTSE does have the potential to run a lot further still.
Above the 7640 level then the top of the 10d Raff channel is at 7670 - seems a tall order for a Friday but with the S&P also continuing to push on upwards, we could get that high, especially if we get the late Friday pump on the US markets. 7676 is also R2. I think though that the 7640 area will be decent resistance.
If the bears were to break below the 7540 level then 7518 is next up, and we are also likely on for a test of the 25ema on the daily chart at 7478 for today. Still potentially a swing long area on that though it does get weaker the longer we go without testing it after the cross over.
To start with I am thinking a dip and rise to play out today, though as its Friday it is worth being a bit more cautious - lower risk/stakes etc.
S&P500
With the bounce yesterday the 2h chart has gone bullish with 4477 as decent looking support. We also have a green 30m coral which held yesterday's test at 4461, and should hold again this morning, if we also get a dip and rise play out on that. Initially we have resistance at the 4513 level with the 30m 200ema here, and then 4526 key fib above that. The bulls will be keen to push on though we then have the R1 level at 4532. Looks like a buy the dip day again, and we may well get a Friday afternoon pump on that.
Dax40
As with the others, the 2h chart is bullish to start with and has 14144 as support. Initially I am thinking a rise towards the key fib at 14306 may well play out, and then a drop back from there. Above the 14310 level we have the daily 25ema at 14340 and that has just gone bearish after yesterdays session. It will be interesting to see if that caps any rises for the moment. Support wise, the 14096 key fib may get tested and again I would like to see a hold of that, otherwise S1 at 14050 will be seen. The bulls have defended 14050 well this week. A third test could of course break though, so bear that in mind, and if so then a slide to 13900 for S2 would probably happen.
Summary
It's Friday so be a little bit more cautious - watch the 7642 and 7676 levels for resistance on the FTSE100, 7540 for support. Have a great weekend and 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

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

The FTSE 100 remained firmly in the red after minutes of the Federal Reserve’s last policy meeting provided more clarity on the central bank’s campaign to quell rampant inflation. London's leading index dropped 0.5pc to 7,551 at close. After hours though and it was a different story with the price being pumped back to the 7620 level where the rise faltered.

Asian stocks and U.S. equity futures struggled to make headway Friday as the Federal Reserve’s plan for aggressive policy tightening and China’s Covid lockdowns hung over markets.

Shares fell in Japan and fluctuated in Hong Kong and China, while S&P 500 and Nasdaq 100 contracts were steady. Global equities are nursing losses for the week, hurt by the risk of an economic downturn as the Fed tackles inflation.

Chinese technology stocks slid for a third day on Tencent Holdings Ltd.’s move to shut a game streaming service. In India, the 10-year bond yield hit 7%, the highest since 2019, as its central bank boosted an inflation forecast.

Treasuries were mixed and the bond curve remained steeper in the wake of the Fed minutes Wednesday, which outlined plans to pare the central bank’s balance sheet by more than $1 trillion a year alongside interest-rate hikes.

A dollar gauge was in sight of its highest level since 2020. Oil fell, squeezed by plans to release millions of barrels of crude from strategic reserves and China’s demand-sapping virus outbreak.

FTSE 100 live outlook prediction analysis for 8th April 2022

The futures have managed to hold onto the overnight gains since the close yesterday and we continue to remain around the 7600 area. 7620 is still the line in the sand for the moment, and the bulls will be keen to break this. However, we have the 7631 level as daily resistance just above this, and then the R1 and key fib at 7642. As such the bulls may well struggle to pop through this today.

Initially we may well get a drop off to start with down to retest the 7540 level as we have decent support here with the bottom of the 10d Raff. These Raff channels continue to head up not he FTSE100 so continuing to buy the dip is still a good plan on the bigger picture. The FTSE does have the potential to run a lot further still.

Above the 7640 level then the top of the 10d Raff channel is at 7670 - seems a tall order for a Friday but with the S&P also continuing to push on upwards, we could get that high, especially if we get the late Friday pump on the US markets. 7676 is also R2. I think though that the 7640 area will be decent resistance.

If the bears were to break below the 7540 level then 7518 is next up, and we are also likely on for a test of the 25ema on the daily chart at 7478 for today. Still potentially a swing long area on that though it does get weaker the longer we go without testing it after the cross over.

To start with I am thinking a dip and rise to play out today, though as its Friday it is worth being a bit more cautious - lower risk/stakes etc.

S&P500
With the bounce yesterday the 2h chart has gone bullish with 4477 as decent looking support. We also have a green 30m coral which held yesterday's test at 4461, and should hold again this morning, if we also get a dip and rise play out on that. Initially we have resistance at the 4513 level with the 30m 200ema here, and then 4526 key fib above that. The bulls will be keen to push on though we then have the R1 level at 4532. Looks like a buy the dip day again, and we may well get a Friday afternoon pump on that.

Dax40
As with the others, the 2h chart is bullish to start with and has 14144 as support. Initially I am thinking a rise towards the key fib at 14306 may well play out, and then a drop back from there. Above the 14310 level we have the daily 25ema at 14340 and that has just gone bearish after yesterdays session. It will be interesting to see if that caps any rises for the moment. Support wise, the 14096 key fib may get tested and again I would like to see a hold of that, otherwise S1 at 14050 will be seen. The bulls have defended 14050 well this week. A third test could of course break though, so bear that in mind, and if so then a slide to 13900 for S2 would probably happen.

Summary
It's Friday so be a little bit more cautious - watch the 7642 and 7676 levels for resistance on the FTSE100, 7540 for support. Have a great weekend and 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