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Dip and rise for a Bull Monday | 7070 7040 support | 7133 7140 7159 resistance

#1 · 12th July 2021, 11:13 am

Quote from Nick on 12th July 2021, 11:13 am
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
FTSE 100 live outlook prediction analysis for 12th July 2021
Friday saw the FTSE 100 claw back its losses from Thursday’s sell-off to rise 91.2 points to 7,121.9, its best session in more than two months. However the blue-chip index still finished the week down, in its second consecutive weekly drop. The FTSE 250 also rose 1pc or 256.6 points to 22,909.3.
Looking like a bull Monday on the cards but maybe after an initial dip down to the pivot support at the 7082 area, but there is a possibility that we go a bit further towards S1 at 7043.
We held up well on Friday and into today and that continues to make Thursday's drop look like a stop hunting/bear trap. The S&P continues to look bulls with more upside towards 4400 on the cards.
The 2h charts are all bullish, with key support for the FTSE100, Dax and S&P500 at 7070, 15530, 4338 respectively, so keep an eye on those levels.
The FTSE100 bulls need to break above 7140 today for further upside towards the 7200 level, so we could see an initial stutter here and possibly some profit taking - we also have the 7133 key fib level in play to start with.
If the bears break below the 7082 daily pivot level then we will likely slide to 7040 for a test of S1 and the key fib support at 7036. So a possible 100 point range in play for today between the key resistance and the key support, and a dip and rise to play out today looks like it would fit.
Bullish to start with though with the green 30m coral at 7095, and just above the 200ema at 7094 as well, hence why I am thinking we may see an initial kick up towards the 7140 area.
Good luck today.
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Asian Session
Asian stocks started the week higher after their U.S. peers chalked fresh records and China’s central bank moved to boost liquidity. Treasury yields stabilized after jumping Friday.
Shares in Japan outperformed. Australia advanced despite a prolonged lockdown in the largest city, Sydney, as virus cases continue to rise. U.S. futures dipped. The S&P 500 finished last week at all-time highs as investors continued to bet that global growth remains on track despite new Covid-19 variants.
Chinese assets found support after the central bank cut the amount of cash most banks must hold in reserve to buttress economic growth. Stocks gained, with the liquidity-sensitive ChiNext increasing as much as 4.3% to the highest since June 2015. Chinese dollar bonds climbed as investment-grade spreads tightened. The offshore yuan edged higher.
Treasuries snapped an eight-session rally Friday that saw 10-year yields tumble as low as 1.25% in a volatile week. They will remain in focus amid new supply coming to the market this week, as well as key U.S. inflation data and Federal Reserve Chair Jerome Powell’s semi-annual appearance before Congress. The dollar inched up against major peers, while the Australian dollar underperformed amid Sydney’s curbs.
Investors turn their attention this week to the second-quarter earnings season in order to gauge whether corporate profitability can support equity valuations. Equities and bonds have rallied amid a decline in long-term interest rates and inflation expectations as central banks aren’t rushing to pull back stimulus that has helped a recovery from the pandemic. [Bloomberg]
Recommended Broker
GoMarkets offer over 350 tradable CFD instruments including Forex, Shares, Indices and Commodities. Widely recognised as Australia’s first MT4 broker, they’ve since added MT5, mobile trading and a web-based version to the trading platform suite. CLICK HERE
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
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FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis

FTSE 100 live outlook prediction analysis for 12th July 2021

Friday saw the FTSE 100 claw back its losses from Thursday’s sell-off to rise 91.2 points to 7,121.9, its best session in more than two months. However the blue-chip index still finished the week down, in its second consecutive weekly drop. The FTSE 250 also rose 1pc or 256.6 points to 22,909.3.

Looking like a bull Monday on the cards but maybe after an initial dip down to the pivot support at the 7082 area, but there is a possibility that we go a bit further towards S1 at 7043.

We held up well on Friday and into today and that continues to make Thursday's drop look like a stop hunting/bear trap. The S&P continues to look bulls with more upside towards 4400 on the cards.

The 2h charts are all bullish, with key support for the FTSE100, Dax and S&P500 at 7070, 15530, 4338 respectively, so keep an eye on those levels.

The FTSE100 bulls need to break above 7140 today for further upside towards the 7200 level, so we could see an initial stutter here and possibly some profit taking - we also have the 7133 key fib level in play to start with.

If the bears break below the 7082 daily pivot level then we will likely slide to 7040 for a test of S1 and the key fib support at 7036. So a possible 100 point range in play for today between the key resistance and the key support, and a dip and rise to play out today looks like it would fit.

Bullish to start with though with the green 30m coral at 7095, and just above the 200ema at 7094 as well, hence why I am thinking we may see an initial kick up towards the 7140 area.

Good luck today.

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Asian Session

Asian stocks started the week higher after their U.S. peers chalked fresh records and China’s central bank moved to boost liquidity. Treasury yields stabilized after jumping Friday.

Shares in Japan outperformed. Australia advanced despite a prolonged lockdown in the largest city, Sydney, as virus cases continue to rise. U.S. futures dipped. The S&P 500 finished last week at all-time highs as investors continued to bet that global growth remains on track despite new Covid-19 variants.

Chinese assets found support after the central bank cut the amount of cash most banks must hold in reserve to buttress economic growth. Stocks gained, with the liquidity-sensitive ChiNext increasing as much as 4.3% to the highest since June 2015. Chinese dollar bonds climbed as investment-grade spreads tightened. The offshore yuan edged higher.

Treasuries snapped an eight-session rally Friday that saw 10-year yields tumble as low as 1.25% in a volatile week. They will remain in focus amid new supply coming to the market this week, as well as key U.S. inflation data and Federal Reserve Chair Jerome Powell’s semi-annual appearance before Congress. The dollar inched up against major peers, while the Australian dollar underperformed amid Sydney’s curbs.

Investors turn their attention this week to the second-quarter earnings season in order to gauge whether corporate profitability can support equity valuations. Equities and bonds have rallied amid a decline in long-term interest rates and inflation expectations as central banks aren’t rushing to pull back stimulus that has helped a recovery from the pandemic. [Bloomberg]

Recommended Broker

GoMarkets offer over 350 tradable CFD instruments including Forex, Shares, Indices and Commodities. Widely recognised as Australia’s first MT4 broker, they’ve since added MT5, mobile trading and a web-based version to the trading platform suite. CLICK HERE

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

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