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Midterm voting underway | 7290 7340 7365 resistance | 7260 7243 7212 support

#1 · 9th November 2022, 11:01 am

Quote from Nick on 9th November 2022, 11:01 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 9th November 2022
US equity futures fluctuated between gains and losses as midterm election results rolled in, with investors looking for signs of government gridlock, which may be positive for shares. Euro Stoxx 50 futures fell and an Asia equity gauge was flat. Shares of Chinese developers jumped the most in eight months as a regulator expanded financing support for the sector, bucking weakness in broader indexes in Hong Kong and the mainland.
It's all about the midterms and we got the drop on the S&P500 down to the 3785 level whereupon it bounced well. Bit later in the day than planned but the bulls are holding on well. So far anyway, as we get more news today about the midterm results which may have a bearing on how things play out today. And then also we have the US CPI data out tomorrow to bear in mind.
Initially we have FTSE100 resistance at the 7300 level, then 7340 above that where we have R1 and the key fib to start with. The 2h chart remains bearish and also has the Hull MA at 7331 for today. As such, this area will be the line in the sand that the bulls will want to break. A push past this will likely lead to the 7365 R2 level.
The Raff channels both continue to head up though we haven't had the pull back to test the 25ema as yet - that is now at the 7120 level.
Support wise, and its possible that we get an initial drop down from the pivot at 7290 (and 30m 25ema here) towards the 7255 level. I would like to see this hold as we have the 30m 200ema here and also S1.
Should the bears break below this then the 7243 key fib is close by, but then 7212 S2 below that and pretty much at the 7200 round number.
With the general bias being bullish, buying the dips is still the preferred play as we saw on the S&P500 yesterday at the 3785 level.
Not too much more to say really. Keep an eye on the news regarding the midterms.
Good luck today.
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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.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 9th November 2022

US equity futures fluctuated between gains and losses as midterm election results rolled in, with investors looking for signs of government gridlock, which may be positive for shares. Euro Stoxx 50 futures fell and an Asia equity gauge was flat. Shares of Chinese developers jumped the most in eight months as a regulator expanded financing support for the sector, bucking weakness in broader indexes in Hong Kong and the mainland.

It's all about the midterms and we got the drop on the S&P500 down to the 3785 level whereupon it bounced well. Bit later in the day than planned but the bulls are holding on well. So far anyway, as we get more news today about the midterm results which may have a bearing on how things play out today. And then also we have the US CPI data out tomorrow to bear in mind.

Initially we have FTSE100 resistance at the 7300 level, then 7340 above that where we have R1 and the key fib to start with. The 2h chart remains bearish and also has the Hull MA at 7331 for today. As such, this area will be the line in the sand that the bulls will want to break. A push past this will likely lead to the 7365 R2 level.

The Raff channels both continue to head up though we haven't had the pull back to test the 25ema as yet - that is now at the 7120 level.

Support wise, and its possible that we get an initial drop down from the pivot at 7290 (and 30m 25ema here) towards the 7255 level. I would like to see this hold as we have the 30m 200ema here and also S1.

Should the bears break below this then the 7243 key fib is close by, but then 7212 S2 below that and pretty much at the 7200 round number.

With the general bias being bullish, buying the dips is still the preferred play as we saw on the S&P500 yesterday at the 3785 level.

Not too much more to say really. Keep an eye on the news regarding the midterms.

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