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Rise and dip two-day with 7150 7164 7195 resistance to watch | 7110 7090 support

#1 · 25th August 2021, 10:09 am

Quote from Nick on 25th August 2021, 10:09 am
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
We got the dip and rise on the FTSE100 yesterday with the 7080 support holding well. The FTSE ended the day up 0.2%. The US markets remained steady and the S&P has held the 4480 level overnight. I am still holding some of my FTSE long from yesterday but have banked as its risen.
In the latest employment saga, Amazon is paying new warehouse recruits a £1,000 bonus in an effort to win workers amid a mounting UK hiring crisis. Tesco has been offering lorry drivers a £1,000 joining bonus, while M&S offers £2,000. Official data last month showed the number of UK job vacancies passed one million for the first time ever in July.
FTSE 100 live outlook prediction analysis for 25th August 2021
The bulls need to build on the 7080 bounce and have done well so far. If they can then we should get a rise towards the 7160 area where we have daily resistance initially with the top of the 10 day Raff channel above that at 7210. Initially today they will want to defend the 7100 level as we have the daily pivot at 7107 as the first main support.
Below the 7100 level then the bears will be looking to break S1 at 7084. We do have the green 2h coral here still at this level, along with the Hull Moving average to lend weight to this support.
Small 5.79 dividend today as well so not too much effect from that.
If the bears were to break the 7080 level then 7052 is next up and 7028 below that, though I am leaning towards more upside today, at least initially. It will be interesting to see what happens at the 7160 area if it gets there.
The S&P has held up well overnight despite some Asian weakness which bodes well for a further push higher towards 4500 or more, They may even manage the top of the 10 day Raff channel around 4450 before the end of the month. They have certainly shaken off the wobble from the other day.
If the FTSE were to break 7160 today then 7195 is R3 and likely to be tested, though as mentioned they may push higher and try and break 7200 again. 7220 area is also the recent high that we dropped off on 13th August, so superstitiously this level may see a reaction and a decent double top.
As we are already long on the FTSE we can trail the stop on that and hopefully it runs higher this morning.
Good luck today.
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Asian Session
Asian stocks wavered Wednesday as a rebound in Chinese technology stocks stalled and traders weighed the resilience of the economic recovery to the fast-spreading delta virus strain. The dollar edged higher.
A Hong Kong gauge of Chinese tech names turned lower amid lingering concerns about Beijing’s crackdown on private industries, while MSCI Inc.’s wider Asia-Pacific index was little changed. U.S. and European futures fluctuated in the wake of all-time highs for the S&P 500 and the Nasdaq 100.
The U.S. 10-year Treasury yield held a climb. The House adopted a $3.5 trillion budget resolution overnight, moving forward President Joe Biden’s plans for substantial spending. China’s 10-year bond yield slipped amid a short-term cash injection by the central bank.
In commodities, oil retreated after the biggest two-day gain since November with Covid-19 still shadowing assessments of the demand outlook.
Company earnings, expanding vaccinations and support from monetary policy have partially repaired sentiment after a bout of jitters over economic prospects caused by the delta strain. The next key read on the central bank outlook is due later this week when Federal Reserve Chairman Jerome Powell speaks at the Jackson Hole symposium. [Bloomberg]
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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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FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis

We got the dip and rise on the FTSE100 yesterday with the 7080 support holding well. The FTSE ended the day up 0.2%. The US markets remained steady and the S&P has held the 4480 level overnight. I am still holding some of my FTSE long from yesterday but have banked as its risen.

In the latest employment saga, Amazon is paying new warehouse recruits a £1,000 bonus in an effort to win workers amid a mounting UK hiring crisis. Tesco has been offering lorry drivers a £1,000 joining bonus, while M&S offers £2,000. Official data last month showed the number of UK job vacancies passed one million for the first time ever in July.

FTSE 100 live outlook prediction analysis for 25th August 2021

The bulls need to build on the 7080 bounce and have done well so far. If they can then we should get a rise towards the 7160 area where we have daily resistance initially with the top of the 10 day Raff channel above that at 7210. Initially today they will want to defend the 7100 level as we have the daily pivot at 7107 as the first main support.

Below the 7100 level then the bears will be looking to break S1 at 7084. We do have the green 2h coral here still at this level, along with the Hull Moving average to lend weight to this support.

Small 5.79 dividend today as well so not too much effect from that.

If the bears were to break the 7080 level then 7052 is next up and 7028 below that, though I am leaning towards more upside today, at least initially. It will be interesting to see what happens at the 7160 area if it gets there.

The S&P has held up well overnight despite some Asian weakness which bodes well for a further push higher towards 4500 or more, They may even manage the top of the 10 day Raff channel around 4450 before the end of the month. They have certainly shaken off the wobble from the other day.

If the FTSE were to break 7160 today then 7195 is R3 and likely to be tested, though as mentioned they may push higher and try and break 7200 again. 7220 area is also the recent high that we dropped off on 13th August, so superstitiously this level may see a reaction and a decent double top.

As we are already long on the FTSE we can trail the stop on that and hopefully it runs higher this morning.

Good luck today.

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Asian Session

Asian stocks wavered Wednesday as a rebound in Chinese technology stocks stalled and traders weighed the resilience of the economic recovery to the fast-spreading delta virus strain. The dollar edged higher.

A Hong Kong gauge of Chinese tech names turned lower amid lingering concerns about Beijing’s crackdown on private industries, while MSCI Inc.’s wider Asia-Pacific index was little changed. U.S. and European futures fluctuated in the wake of all-time highs for the S&P 500 and the Nasdaq 100.

The U.S. 10-year Treasury yield held a climb. The House adopted a $3.5 trillion budget resolution overnight, moving forward President Joe Biden’s plans for substantial spending. China’s 10-year bond yield slipped amid a short-term cash injection by the central bank.

In commodities, oil retreated after the biggest two-day gain since November with Covid-19 still shadowing assessments of the demand outlook.

Company earnings, expanding vaccinations and support from monetary policy have partially repaired sentiment after a bout of jitters over economic prospects caused by the delta strain. The next key read on the central bank outlook is due later this week when Federal Reserve Chairman Jerome Powell speaks at the Jackson Hole symposium. [Bloomberg]

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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