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If the bulls can break 7915 then 7968 next | 7881 7830 support | Pause for UK rate rises

#1 · 17th April 2023, 8:58 am

Quote from Nick on 17th April 2023, 8:58 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 17th April 2023
Asian stocks traded cautiously on Monday as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world's second-largest economy is recovering. Markets have also seen a mood shift on the outlook for U.S. interest rates, with CME futures implying an 83% chance the Federal Reserve will hike by a quarter point to 5.0-5.25% in May.
Resilience in core U.S. retail sales and a jump in inflation expectations reported on Friday has led investors to trim the amount of easing expected later this year to around 55 basis points
At least eight top Fed officials are speaking this week, including three governors, and could generate plenty of headlines to move the dial further.
The bulls have managed to maintain the momentum for the time boing and the futures have stayed around the 7900 level over the weekend. As such we may well see a test of the next daily resistance level at the 7918 levels and we also have the key fib here for today to start with.
Above that then the bulls will be aiming for the 7970 level where we had the next daily level of note, along with R3 for today. Above this then of course the round number beckons and another test of the 8050 recent high, though that might be a bit optimistic for today. Rumour is that interest rate rises will be paused at the next announcement as inflation is starting to temper as expected. That was what the rush was around Christmas time to get all the strikes in - while inflation was running so hot.
Above 8050 then 8080 is next up with 8200 showing on the very long term charts. A few levels to bear in mind there.
Support wise today we have the daily pivot as the main one to start with at the 7881 level, and the the 7835 area below that. With S2 around here and the 30m 200ema any drop down to here I would like to see hold, as the trend remains up, and hence buying the dips is the wise move for the moment.
Don't forget that seasonal chart still with the dip mid March and then a rise into May.
The 2h Hull MA held well on Friday with the test at 7850, and the now have the green coral at this level too. We are mid point on the Raff channels as well as you can see on the daily chart.
So generally looking like we should see a bull Monday and an attempt to push past and hold the the 7900 level.
The S&P meanwhile is slowly moving up as well, with the green 2h coral at 4120 for today. A second test of this area would probably hold and set up a push towards the 4160 level again. This level will see the bulls keen to break as that then will allow a test of the top of the 10d Raff channel at 4180. A break of 4020 will likely see 4090 S2 though.
Good luck today.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 17th April 2023

Asian stocks traded cautiously on Monday as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world's second-largest economy is recovering. Markets have also seen a mood shift on the outlook for U.S. interest rates, with CME futures implying an 83% chance the Federal Reserve will hike by a quarter point to 5.0-5.25% in May.

Resilience in core U.S. retail sales and a jump in inflation expectations reported on Friday has led investors to trim the amount of easing expected later this year to around 55 basis points

At least eight top Fed officials are speaking this week, including three governors, and could generate plenty of headlines to move the dial further.

The bulls have managed to maintain the momentum for the time boing and the futures have stayed around the 7900 level over the weekend. As such we may well see a test of the next daily resistance level at the 7918 levels and we also have the key fib here for today to start with.

Above that then the bulls will be aiming for the 7970 level where we had the next daily level of note, along with R3 for today. Above this then of course the round number beckons and another test of the 8050 recent high, though that might be a bit optimistic for today. Rumour is that interest rate rises will be paused at the next announcement as inflation is starting to temper as expected. That was what the rush was around Christmas time to get all the strikes in - while inflation was running so hot.

Above 8050 then 8080 is next up with 8200 showing on the very long term charts. A few levels to bear in mind there.

Support wise today we have the daily pivot as the main one to start with at the 7881 level, and the the 7835 area below that. With S2 around here and the 30m 200ema any drop down to here I would like to see hold, as the trend remains up, and hence buying the dips is the wise move for the moment.

Don't forget that seasonal chart still with the dip mid March and then a rise into May.

The 2h Hull MA held well on Friday with the test at 7850, and the now have the green coral at this level too. We are mid point on the Raff channels as well as you can see on the daily chart.

So generally looking like we should see a bull Monday and an attempt to push past and hold the the 7900 level.

The S&P meanwhile is slowly moving up as well, with the green 2h coral at 4120 for today. A second test of this area would probably hold and set up a push towards the 4160 level again. This level will see the bulls keen to break as that then will allow a test of the top of the 10d Raff channel at 4180. A break of 4020 will likely see 4090 S2 though.

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 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