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FTSE100 finally manages the 7140 | 7157 7177 7218 resistance | 7124 7105 7078 support

#1 · 13th July 2021, 10:50 am

Quote from Nick on 13th July 2021, 10:50 am
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
FTSE 100 live outlook prediction analysis for 13th July 2021
That was a decent bull Monday yesterday though the rise stopped just shy of the 7135 short order. We have not had that much of a reaction off the 7140 daily resistance level so far, and the short term, 30 minute charts are bullish still to kick things off today. As such the bulls will need to defend the 7125 level where we have the green 30m coral and also the 25ema. If they do hold then a rise initially, towards the R1 and key fib levels looks likely, at 7148 and 7157 respectively.
A break of 7120 though and then a slide down to test the daily pivot and 200ema on the 30m at the 7103 level looks likely, though we could slide down to the 7080 level where we have S1 and the key fib. I am leaning towards a bear Tuesday playing out, at least initially, as the S&P rise also stalled at its key daily resistance level yesterday around the 4380 level. We may well need some consolidation around here ready for the next move up, probably driven by earnings this week.
Below 7080 the key fib is at 7062 but with 7080 now showing a green coral on the 2h chart, and a second test of the Hull moving average at 7081 we could well see this hold. Thursdays sharp move down is certainly looking like a stop hunt/bear trap at the moment.
If the bulls can push past the 7157 resistance level then R2 at 7177 is the next level of note, and this is also around the recent high last week. A break of this is therefore quite bullish and bodes well for a push into the 7200 area and the top of the Raff channels around the 7250 level. That would tie in with a rise on the S&P which looks like it wants to get to the 4400+ level.
So, again I am thinking a dip and rise to play out today as per yesterday and a lot will depend on the earning news flow and we also have the June CPI data out later in the US which will give a clue into inflationary pressures.
Good luck today.
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Asian Session
Asian stocks advanced Tuesday after their U.S. counterparts notched further all-time highs as investors awaited second-quarter earnings season. Treasury yields were steady after a solid U.S. debt sale.
An MSCI gauge of the region’s stocks rose for a second day. Hong Kong outperformed as Chinese technology shares climbed after government approval of a Tencent Holdings Ltd. deal eased concerns about stricter regulation. Shares in Taiwan touched an intraday record high. U.S. futures fluctuated after the S&P 500 and tech-heavy Nasdaq 100 closed at new highs.
Investors are also focusing on the U.S. inflation report and Federal Reserve Chair Jerome Powell’s testimony this week as policy makers prepare to discuss tapering stimulus as the economy recovers from the pandemic.
The U.S. Treasury sold $58 billion of three-year notes at yields slightly higher than before the auction. A sale of $38 billion of 10-year notes was greeted by stronger demand. The dollar dipped against most major peers.
Expectations for a solid earnings season are underpinning the stock rally, as investors ponder how central banks will unwind the support driving the recovery from the pandemic. Still, inflationary pressures remain a concern, as does the spread of the delta variant and a slowdown in vaccination rates. [Bloomberg]
Recommended Broker
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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.
Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
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FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis

FTSE 100 live outlook prediction analysis for 13th July 2021

That was a decent bull Monday yesterday though the rise stopped just shy of the 7135 short order. We have not had that much of a reaction off the 7140 daily resistance level so far, and the short term, 30 minute charts are bullish still to kick things off today. As such the bulls will need to defend the 7125 level where we have the green 30m coral and also the 25ema. If they do hold then a rise initially, towards the R1 and key fib levels looks likely, at 7148 and 7157 respectively.

A break of 7120 though and then a slide down to test the daily pivot and 200ema on the 30m at the 7103 level looks likely, though we could slide down to the 7080 level where we have S1 and the key fib. I am leaning towards a bear Tuesday playing out, at least initially, as the S&P rise also stalled at its key daily resistance level yesterday around the 4380 level. We may well need some consolidation around here ready for the next move up, probably driven by earnings this week.

Below 7080 the key fib is at 7062 but with 7080 now showing a green coral on the 2h chart, and a second test of the Hull moving average at 7081 we could well see this hold. Thursdays sharp move down is certainly looking like a stop hunt/bear trap at the moment.

If the bulls can push past the 7157 resistance level then R2 at 7177 is the next level of note, and this is also around the recent high last week. A break of this is therefore quite bullish and bodes well for a push into the 7200 area and the top of the Raff channels around the 7250 level. That would tie in with a rise on the S&P which looks like it wants to get to the 4400+ level.

So, again I am thinking a dip and rise to play out today as per yesterday and a lot will depend on the earning news flow and we also have the June CPI data out later in the US which will give a clue into inflationary pressures.

Good luck today.

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Asian Session

Asian stocks advanced Tuesday after their U.S. counterparts notched further all-time highs as investors awaited second-quarter earnings season. Treasury yields were steady after a solid U.S. debt sale.

An MSCI gauge of the region’s stocks rose for a second day. Hong Kong outperformed as Chinese technology shares climbed after government approval of a Tencent Holdings Ltd. deal eased concerns about stricter regulation. Shares in Taiwan touched an intraday record high. U.S. futures fluctuated after the S&P 500 and tech-heavy Nasdaq 100 closed at new highs.

Investors are also focusing on the U.S. inflation report and Federal Reserve Chair Jerome Powell’s testimony this week as policy makers prepare to discuss tapering stimulus as the economy recovers from the pandemic.

The U.S. Treasury sold $58 billion of three-year notes at yields slightly higher than before the auction. A sale of $38 billion of 10-year notes was greeted by stronger demand. The dollar dipped against most major peers.

Expectations for a solid earnings season are underpinning the stock rally, as investors ponder how central banks will unwind the support driving the recovery from the pandemic. Still, inflationary pressures remain a concern, as does the spread of the delta variant and a slowdown in vaccination rates. [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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