Discussion Forum for trading analysis, help, signals and learning how to trade. Chat with other traders , post analysis, trades and ask questions. This is the public part of my website. For more in-depth discussions please consider joining to chat with other members

ForumTrading Forum with market discussion and live trades: Market DiscussionRise towards 7365 as the FTSE100 …

Please or Register to create posts and topics.

Rise towards 7365 as the FTSE100 ignores the S&P500 drop | 7300 7253 support | 7385 above

#1 · 11th November 2021, 10:07 am

Quote from Nick on 11th November 2021, 10:07 am
FTSE 100 Analysis | Trading Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
The FTSE100 was more resilient yesterday, staying above 7300 and not following the S&P500 weakness. The decline on the S&P dropped it down to the long term support at 4630 which it has held so far. The bulls now need to make a concerted effort to recapture 4700.
Joe Biden has ordered his top economic advisers and competition regulator to combat soaring prices after US inflation surged to its highest rate in more than 30 years. The embattled US president insisted that tackling inflation is a “top priority” after the consumer price index hit 6.2pc in the year to October, its sharpest rise since 1990.
Applications for jobless benefits in the US fell for the sixth consecutive week last week in a further sign of improvement in the labour market.
Claims dipped another 4,000 to 267,000 in the week ended November 6, falling to the lowest level since March 14, 2020, just before the outbreak of Covid sparked mass layoffs.
Asian stocks were mixed Thursday after the hottest U.S. inflation print in three decades hurt Wall Street shares and sparked a jump in Treasury yields amid concern monetary policy will be tightened more quickly.
Equities rose in Japan and China but slipped in Hong Kong. U.S. futures were steady as traders digested filings showing Tesla Inc. Chief Executive Officer Elon Musk unloaded $5 billion of stock in the electric car-maker. The S&P 500 dropped and the Nasdaq 100 underperformed as investors questioned the richer valuations of technology stocks.
Concerns about price pressures brought forward expectations of interest-rate hikes. Treasury yields soared across the curve, with the 10-year yield up more than 10 basis points. A poorly received 30-year auction added to the angst. Sovereign bonds slid in Australia and New Zealand. There’s no cash Treasuries trading Thursday due to a U.S. holiday.
Climate Surprise
China and the U.S. vowed to work together to slow global warming, issuing a surprise statement that injects new momentum into the last days of global climate negotiations at the COP26 meeting. The two sides agreed to boost efforts to cut emissions, including by tackling methane and illegal deforestation. Elsewhere the news wasn’t quite so positive, as India demanded rich countries pay it $1 trillion by 2030 — equal to the funds pledged to all poor countries — before it agrees to slash planet-warming emissions.
Close Call
China’s Evergrande looks set to avert another default in its biggest test since the property developer’s debt crisis began. Customers of international clearing firm Clearstream received overdue interest paymentson three U.S. dollar bonds issued by Evergrande. Two investors that hold two of the bonds confirmed that they received the payments. But the crisis at Asia’s largest junk bond issuer is hardly over, as it grapples with more than $300 billion in liabilities.
FTSE 100 live outlook prediction analysis for 11th November 2021
The FTSE100 bulls have done a good job of holding it above the 7300 level and shaking off the wobble in the S&P500, with the plan of a rise towards the 7365 daily resistance level still intact. We may well see them manage to achieve that today, especially if they can break the recent high (now resistance) at 7330. We are just testing that area again as I write this so a drop down from here initially to test the daly pivot and 200ema support at the 7300 level would fit quite well.
The bulls will not want to see a break of the 7300 level though as we have the green 2h coral here and also the Hull MA at 7304, so should that happen it breaks some key supports and will likely lead down to the 7268 S1 level in short order, but also the 7253 key fib. That said, we are now in a seasonally weak few sessions (already started on the S&P with the drop off 4710) and could well see the bulls take a breather before the year end push starts. If it does!
The bottom of the Raff channels are both aligning at 7235 for today so should it get bearish today and test that sort of level then I would like to see them hold, though I am not sure the FTSE100 is ready to shed 100 points today. It was crisis averted last night at Evergrande but the issue is simmering away in the background and something to keep an eye on.
For the bulls, as mentioned 7330 then 7365 are the key levels for today, and a break of that higher resistance would probably see R3 at 7413, though again, I cant see a 100 point swing up today either, especially if the S&P gets a bit weaker.
The S&P500 key support is at the 4630 level which held initially yesterday and will need to be defended otherwise a move below 4600 looks likely and we have the 25ema on the daily at 4580 first up as major support.
Gold finally broke out above the 1830 level to test the 1870 daily resistance level, so the bulls will need to defend that now, and should get help from the green 2h coral at 1828 and rising. Equally the bulls will be trying to break 1870 to push towards 1900. 1870 is also the top of the 20d Raff channel for today so remains a key resistance.
The Dax40 has held above 16000 and a rise towards 16125 where we have the key fib may well play out. The bears might well have another go here, as the 2h chart remains bearish for the moment so a little bit of bias for the bears, though the daily Raff channels continue to head up in a bullish trend.
So, looking for a teat of the 7365 level on the FTSE where we may well see a bit of a bearish reaction today. A rise and dip to play out I am thinking, though watch the S&P500 for clues and see of the bulls can get the price aback above the 4670 level to shake off the bearish overtones. They need to defend that 4630 again if necessary.
Good luck today.
(adsbygoogle = window.adsbygoogle || []).push({});
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
[yikes-mailchimp form="4"]

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

The FTSE100 was more resilient yesterday, staying above 7300 and not following the S&P500 weakness. The decline on the S&P dropped it down to the long term support at 4630 which it has held so far. The bulls now need to make a concerted effort to recapture 4700.

Joe Biden has ordered his top economic advisers and competition regulator to combat soaring prices after US inflation surged to its highest rate in more than 30 years. The embattled US president insisted that tackling inflation is a “top priority” after the consumer price index hit 6.2pc in the year to October, its sharpest rise since 1990.

Applications for jobless benefits in the US fell for the sixth consecutive week last week in a further sign of improvement in the labour market.
Claims dipped another 4,000 to 267,000 in the week ended November 6, falling to the lowest level since March 14, 2020, just before the outbreak of Covid sparked mass layoffs.

Asian stocks were mixed Thursday after the hottest U.S. inflation print in three decades hurt Wall Street shares and sparked a jump in Treasury yields amid concern monetary policy will be tightened more quickly.

Equities rose in Japan and China but slipped in Hong Kong. U.S. futures were steady as traders digested filings showing Tesla Inc. Chief Executive Officer Elon Musk unloaded $5 billion of stock in the electric car-maker. The S&P 500 dropped and the Nasdaq 100 underperformed as investors questioned the richer valuations of technology stocks.

Concerns about price pressures brought forward expectations of interest-rate hikes. Treasury yields soared across the curve, with the 10-year yield up more than 10 basis points. A poorly received 30-year auction added to the angst. Sovereign bonds slid in Australia and New Zealand. There’s no cash Treasuries trading Thursday due to a U.S. holiday.

Climate Surprise
China and the U.S. vowed to work together to slow global warming, issuing a surprise statement that injects new momentum into the last days of global climate negotiations at the COP26 meeting. The two sides agreed to boost efforts to cut emissions, including by tackling methane and illegal deforestation. Elsewhere the news wasn’t quite so positive, as India demanded rich countries pay it $1 trillion by 2030 — equal to the funds pledged to all poor countries — before it agrees to slash planet-warming emissions.

Close Call
China’s Evergrande looks set to avert another default in its biggest test since the property developer’s debt crisis began. Customers of international clearing firm Clearstream received overdue interest paymentson three U.S. dollar bonds issued by Evergrande. Two investors that hold two of the bonds confirmed that they received the payments. But the crisis at Asia’s largest junk bond issuer is hardly over, as it grapples with more than $300 billion in liabilities.

FTSE 100 live outlook prediction analysis for 11th November 2021

The FTSE100 bulls have done a good job of holding it above the 7300 level and shaking off the wobble in the S&P500, with the plan of a rise towards the 7365 daily resistance level still intact. We may well see them manage to achieve that today, especially if they can break the recent high (now resistance) at 7330. We are just testing that area again as I write this so a drop down from here initially to test the daly pivot and 200ema support at the 7300 level would fit quite well.

The bulls will not want to see a break of the 7300 level though as we have the green 2h coral here and also the Hull MA at 7304, so should that happen it breaks some key supports and will likely lead down to the 7268 S1 level in short order, but also the 7253 key fib. That said, we are now in a seasonally weak few sessions (already started on the S&P with the drop off 4710) and could well see the bulls take a breather before the year end push starts. If it does!

The bottom of the Raff channels are both aligning at 7235 for today so should it get bearish today and test that sort of level then I would like to see them hold, though I am not sure the FTSE100 is ready to shed 100 points today. It was crisis averted last night at Evergrande but the issue is simmering away in the background and something to keep an eye on.

For the bulls, as mentioned 7330 then 7365 are the key levels for today, and a break of that higher resistance would probably see R3 at 7413, though again, I cant see a 100 point swing up today either, especially if the S&P gets a bit weaker.

The S&P500 key support is at the 4630 level which held initially yesterday and will need to be defended otherwise a move below 4600 looks likely and we have the 25ema on the daily at 4580 first up as major support.

Gold finally broke out above the 1830 level to test the 1870 daily resistance level, so the bulls will need to defend that now, and should get help from the green 2h coral at 1828 and rising. Equally the bulls will be trying to break 1870 to push towards 1900. 1870 is also the top of the 20d Raff channel for today so remains a key resistance.

The Dax40 has held above 16000 and a rise towards 16125 where we have the key fib may well play out. The bears might well have another go here, as the 2h chart remains bearish for the moment so a little bit of bias for the bears, though the daily Raff channels continue to head up in a bullish trend.

So, looking for a teat of the 7365 level on the FTSE where we may well see a bit of a bearish reaction today. A rise and dip to play out I am thinking, though watch the S&P500 for clues and see of the bulls can get the price aback above the 4670 level to shake off the bearish overtones. They need to defend that 4630 again if necessary.

Good luck today.

(adsbygoogle = window.adsbygoogle || []).push({});

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

[yikes-mailchimp form="4"]