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End of month so possible rise and dip | 6983 7018 resistance | 6931 6895 6975 support

#1 · 30th April 2021, 9:38 am

Quote from Nick on 30th April 2021, 9:38 am
FTSE 100 live outlook prediction analysis for 30th April 2021
Shares in two of the world’s largest tobacco companies fell. BAT lost 54.5p to £26.26, making it one of the top fallers on the FTSE 100, while Imperial Brands shed 8p to £14.70. The drags came on an otherwise relatively positive day for London’s top flight, which rose above the 7,000 level once again to hit a one-week high during the trading session. It slipped back to close slightly in the red at 6,961.48, though managed to outperform European peers on a wave of positive corporate earnings. The mid-cap FTSE 250 also ended flat at 22,392.94.

Leading the charge on the top flight was Standard Chartered which gained 27.8p to 521.6p after posting a stronger than expected first quarter profit. Its optimistic outlook also helped to push fellow bank HSBC – which reported earlier this week – up 10.95p to 454.3p.
Pointing Lower
Asian stocks are poised to open lower Friday, after fresh all-time highs for the U.S. market as investors digested the latest corporate earnings and strong economic growth data. Futures pointed down in Hong Kong, Australia and Japan, where markets will reopen after a holiday. Risk sentiment was buoyed by data showing the U.S. economy expanded at a robust 6.4% annualized rate in the first quarter, while jobless claims fell to a fresh pandemic low. Treasuries weakened and the dollar was steady.
Crisis Deepens
The U.S. has told citizens to get out of India as soon as possible as the country's Covid-19 crisis worsens. A Level 4 Travel Advisory — the highest of its kind — warned Americans "not to travel to India or to leave as soon as it is safe to do so." As India struggles with the world's worst outbreak, Prime Minister Narendra Modi’s party appears to be trailing in exit polls in key state elections. Back in January, the chances of success looked high for his government's vaccination drive. Here's how the country's plans crumbled into chaos. Meanwhile China has detected Covid-19 variants circulating in India among its imported cases. Elsewhere, the EU has clinched a vaccine deal with Pfizer, while members of the bloc including Germany and France are pushing to curb flights from India. And New York is moving to fully reopen on July 1, Mayor Bill de Blasio said.[Bloomberg]
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US & Asia Overnight from Bloomberg
Asian stocks retreated Friday as China’s antitrust crackdown weighed on technology firms, while U.S. equity futures fell after another record on Wall Street overnight. Treasuries and the dollar were steady.
Hong Kong led regional losses and an Asia-Pacific stock gauge headed for its first drop in three days. Chinese regulators imposed wide-ranging restrictions on the financial divisions of 13 companies, including Tencent Holdings Ltd. and ByteDance Ltd., in a broadening effort to rein in the nation’s tech giants.
China’s purchasing managers surveys pointed to slowing expansion in activity, which may have added to the downbeat mood.
The U.S. earlier reported 6.4% annualized growth in the first quarter, helping to propel the S&P 500 to a new high. European, S&P 500 and Nasdaq 100 contracts fell. Mixed earnings reports Thursday included disappointments for Ford Motor Co. and Twitter Inc., and gains for Facebook Inc. and Amazon.com Inc. Concerns about chip shortages erased an earnings-driven climb for Apple Inc.
Equity markets may be ready for a pause after a month of gains. Investors are eyeing more support for the U.S. recovery after President Joe Biden unveiled a $1.8 trillion social package in addition to his infrastructure plans. And there’s no sign yet of the Federal Reserve withdrawing policy accommodation, with Chair Jerome Powell reasserting this week that he’s looking for more progress in the jobs market, and that inflation pressures are likely temporary.
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
The drop off 7010 was a bit slow to get going yesterday but it eventually did and managed to get to 6950 in the end. That has made the 2 hour chart look fairly bearish for today and with it being a Friday and end of month (ahead of what could be a choppier May) we may well see a rise and dip play out today.
The S&P bulls will be keen to hold this initial 4195 level we are at as I write this and a retest of the near enough 4220 level would probably be ideal for them. That said 4209 is now the 2h resistance on that, with R1 at 4225 above that. Lower support is 4182 and 4172.
For the FTSE, S1 looks key to start with for the bulls defence at 6931 and could act a springboard for a push up towards the daily pivot and 30m coral line at 6973. 6983 is the Hull moving average on the 2hour chart and we may well see a stall here of any early rise. Above this then 7010 is R1, and the key fib is at 7018 and ties in with yesterdays high. Can they push higher than that today? If they do then 7052 is the top of the 10d Raff channel and would close the week and month out strongly, and if the bulls can keep the strength, a rise towards 7091 remains possible.
We have the public holiday in the UK on Monday so no FTSE that day, but could well be pulled up by the US if the S&P does start to go for higher than the 4220 level. Raff channels on the S&P are still heading up of course.
For the FTSE 100 bears, they will be looking to break 6931 as that would likely open up a drop down to the 6895 S2 level, but more importantly, the bottom of the 20d Raff channel which is at 6873, with S3 at 6851 below that. If we were to drop that low today then the bulls will want to defend that lower support. 6834 is the daily coral below that.
So, possible rise and dip to play out today. Good luck and enjoy the long weekend!
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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.
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Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
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FTSE 100 live outlook prediction analysis for 30th April 2021

Shares in two of the world’s largest tobacco companies fell. BAT lost 54.5p to £26.26, making it one of the top fallers on the FTSE 100, while Imperial Brands shed 8p to £14.70. The drags came on an otherwise relatively positive day for London’s top flight, which rose above the 7,000 level once again to hit a one-week high during the trading session. It slipped back to close slightly in the red at 6,961.48, though managed to outperform European peers on a wave of positive corporate earnings. The mid-cap FTSE 250 also ended flat at 22,392.94.

Leading the charge on the top flight was Standard Chartered which gained 27.8p to 521.6p after posting a stronger than expected first quarter profit. Its optimistic outlook also helped to push fellow bank HSBC – which reported earlier this week – up 10.95p to 454.3p.

Pointing Lower

Asian stocks are poised to open lower Friday, after fresh all-time highs for the U.S. market as investors digested the latest corporate earnings and strong economic growth data. Futures pointed down in Hong Kong, Australia and Japan, where markets will reopen after a holiday. Risk sentiment was buoyed by data showing the U.S. economy expanded at a robust 6.4% annualized rate in the first quarter, while jobless claims fell to a fresh pandemic low. Treasuries weakened and the dollar was steady.

Crisis Deepens

The U.S. has told citizens to get out of India as soon as possible as the country's Covid-19 crisis worsens. A Level 4 Travel Advisory — the highest of its kind — warned Americans "not to travel to India or to leave as soon as it is safe to do so." As India struggles with the world's worst outbreak, Prime Minister Narendra Modi’s party appears to be trailing in exit polls in key state elections. Back in January, the chances of success looked high for his government's vaccination drive. Here's how the country's plans crumbled into chaos. Meanwhile China has detected Covid-19 variants circulating in India among its imported cases. Elsewhere, the EU has clinched a vaccine deal with Pfizer, while members of the bloc including Germany and France are pushing to curb flights from India. And New York is moving to fully reopen on July 1, Mayor Bill de Blasio said.[Bloomberg]

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US & Asia Overnight from Bloomberg

Asian stocks retreated Friday as China’s antitrust crackdown weighed on technology firms, while U.S. equity futures fell after another record on Wall Street overnight. Treasuries and the dollar were steady.

Hong Kong led regional losses and an Asia-Pacific stock gauge headed for its first drop in three days. Chinese regulators imposed wide-ranging restrictions on the financial divisions of 13 companies, including Tencent Holdings Ltd. and ByteDance Ltd., in a broadening effort to rein in the nation’s tech giants.

China’s purchasing managers surveys pointed to slowing expansion in activity, which may have added to the downbeat mood.

The U.S. earlier reported 6.4% annualized growth in the first quarter, helping to propel the S&P 500 to a new high. European, S&P 500 and Nasdaq 100 contracts fell. Mixed earnings reports Thursday included disappointments for Ford Motor Co. and Twitter Inc., and gains for Facebook Inc. and Amazon.com Inc. Concerns about chip shortages erased an earnings-driven climb for Apple Inc.

Equity markets may be ready for a pause after a month of gains. Investors are eyeing more support for the U.S. recovery after President Joe Biden unveiled a $1.8 trillion social package in addition to his infrastructure plans. And there’s no sign yet of the Federal Reserve withdrawing policy accommodation, with Chair Jerome Powell reasserting this week that he’s looking for more progress in the jobs market, and that inflation pressures are likely temporary.

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

The drop off 7010 was a bit slow to get going yesterday but it eventually did and managed to get to 6950 in the end. That has made the 2 hour chart look fairly bearish for today and with it being a Friday and end of month (ahead of what could be a choppier May) we may well see a rise and dip play out today.

The S&P bulls will be keen to hold this initial 4195 level we are at as I write this and a retest of the near enough 4220 level would probably be ideal for them. That said 4209 is now the 2h resistance on that, with R1 at 4225 above that. Lower support is 4182 and 4172.

For the FTSE, S1 looks key to start with for the bulls defence at 6931 and could act a springboard for a push up towards the daily pivot and 30m coral line at 6973. 6983 is the Hull moving average on the 2hour chart and we may well see a stall here of any early rise. Above this then 7010 is R1, and the key fib is at 7018 and ties in with yesterdays high. Can they push higher than that today? If they do then 7052 is the top of the 10d Raff channel and would close the week and month out strongly, and if the bulls can keep the strength, a rise towards 7091 remains possible.

We have the public holiday in the UK on Monday so no FTSE that day, but could well be pulled up by the US if the S&P does start to go for higher than the 4220 level. Raff channels on the S&P are still heading up of course.

For the FTSE 100 bears, they will be looking to break 6931 as that would likely open up a drop down to the 6895 S2 level, but more importantly, the bottom of the 20d Raff channel which is at 6873, with S3 at 6851 below that. If we were to drop that low today then the bulls will want to defend that lower support. 6834 is the daily coral below that.

So, possible rise and dip to play out today. Good luck and enjoy the long 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 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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