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 DiscussionSPX stalls at 3700 | Can FTSE 100 …

Please or Register to create posts and topics.

SPX stalls at 3700 | Can FTSE 100 get 6600 | 6582 6610 6625 resistance | 6535 6500 support

#1 · 7th December 2020, 10:33 am

Quote from Nick on 7th December 2020, 10:33 am
FTSE 100 live outlook prediction analysis for 7th December 2020
Oil giants BP and Shell led the FTSE 100 to a nine-month high on Friday, as British equities continued a rare run of outperformance against their European peers. The energy companies gained ground – with BP rising 10.5p to 277p and Shell 42p to £13.51 – after oil producers agreed to a moderate increase in output, easing fears of a looming oversupply.
Amazon.co.uk Widgets
Brent crude oil neared $50 a barrel, its highest price since March, after Opec and Russia struck an agreement to increase supply by 500,000 barrels a day from the start of next year.
London’s blue-chips were fairly evenly split between risers and fallers during the session, but upward moves for several heavyweights kept the index above continental peers. The FTSE 100 largely shrugged off a rollercoaster day for the pound, which see-sawed on Brexit headlines, hitting a two-year high in the afternoon that is the outcome of a sustained softening in the dollar, which is at its weakest level since early 2018.
Market Open
Asian stocks will look to build on the recent momentum that pushed U.S. shares to fresh records on Friday as investors weighed the outlook for policy support and signs the deployment of a vaccine may be nearing. The pound fell as concern grew on a Brexit deal. The S&P 500 notched a fresh all-time high on Friday, when equity futures in Japan and Australia climbed. Treasuries ended last week with the benchmark yield just under 1%, the highest in nine months. The pound retreated as investors questioned how close Britain and the European Union are to sealing a final Brexit trade agreement. U.S. payrolls figures Friday showed a less-than-forecast increase, fueling hope in some corners for more federal relief.
Catching Fish
Brexit negotiations resumed in Brussels amid signs that one of the biggest obstacles to a trade deal is on the way to being resolved. As the U.K. and European Union strive to finalize a deal before Monday evening, a compromise on the longstanding stumbling block of access to British fishing waters is starting to emerge, two people with knowledge of the discussion on both sides said. That would leave the issue of the level competitive playing field as the main remaining hurdle.[Bloomberg]
(adsbygoogle = window.adsbygoogle || []).push({});
US & Asia Overnight from Bloomberg
A global equity rally showed signs of stalling Monday as investors weighed signs the deployment of a vaccine may be nearing against renewed U.S.-China tensions. Treasuries were steady with the benchmark yield near its highest in nine months at just under 1%.
Asian shares traded mixed with Hong Kong stocks underperforming, while U.S. and European contracts edged down. The S&P 500 Index notched a fresh all-time high on Friday. Testing the positive sentiment Monday was news that the U.S. is preparing sanctions on some Chinese officials. The yen ticked higher and the dollar traded flat.
Elsewhere, oil edged lower after a fifth straight weekly advance. Australian bonds fell. The pound pared an early decline amid concern about a Brexit deal.
Investors are warming toward the prospect of more U.S. stimulus after payrolls figures Friday showed a less-than-forecast increase. On the virus front, a senior U.S. health official said all Americans who want a vaccine should be able to get one by the second quarter of next year and that vaccinations could begin as early as Friday.
FTSE 100 Outlook | Trading Signals | Forecast | Prediction | Analysis
Not much movement so far from Friday's close on the futures and we are hovering around the 6560 resistance level. The bulls will be keen to push past this as it opens up a test of the key fib at 6582, and also R1 at 6590. That said, I wouldn't be surprised if we get a slight overshoot of these as the bulls might want to see 6600 printed as its the round number. That would tie in with another test of the 3700 resistance level on the S&P (and a possible overshoot/stop hunt of the early bears) to 3705. That may also see the FTSE manage to test the daily resistance level at 6610 which is right in the middle of R1 and R2.
If the S&P fails to push on much today then we may well see a bit of consolidation and possibly a bit of a pull back from these levels, mainly as the daily RSI's are quite high still. 68 for the FTSE and 73 on the S&P. We are also at Extreme Greed 89/100 on the scale here.
Brexit is once again at the forefront of the FTSE movements, and Fridays late drop on cable (GBPUSD) helped the FTSE to get that 6560 resistance level. The 2 hour chart remains bullish and is showing support at 6527 (and rising) to start with today, so that may well tie in with a test of the pivot at 6535 this morning which should hold as initial support.
If the bulls were to break above the 6610 level then 6625 is R2, but more importantly is the top of the 10 day Raff channel at 6648 which I think we would likely see. That would also be yet another bull Monday with a decent rise before a possible drop back tomorrow. If cable continues to slide then that should in theory help the FTSE 100 is rise today.
For the bears, a break of 6535 will likely lead down to S1 at 6501. Below this we have the key fib at 6484, the 2 hour coral at 6460 (and rising) the the 200ema on the 30m at 6470. As such, should the bears take it tis 6460/6480 area then we may well see. bounce here later on. That said, I am not thinking we get that low unless the S&P starts to decline today. 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 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 live outlook prediction analysis for 7th December 2020

Oil giants BP and Shell led the FTSE 100 to a nine-month high on Friday, as British equities continued a rare run of outperformance against their European peers. The energy companies gained ground – with BP rising 10.5p to 277p and Shell 42p to £13.51 – after oil producers agreed to a moderate increase in output, easing fears of a looming oversupply.
Amazon.co.uk Widgets
Brent crude oil neared $50 a barrel, its highest price since March, after Opec and Russia struck an agreement to increase supply by 500,000 barrels a day from the start of next year.

London’s blue-chips were fairly evenly split between risers and fallers during the session, but upward moves for several heavyweights kept the index above continental peers. The FTSE 100 largely shrugged off a rollercoaster day for the pound, which see-sawed on Brexit headlines, hitting a two-year high in the afternoon that is the outcome of a sustained softening in the dollar, which is at its weakest level since early 2018.

Market Open

Asian stocks will look to build on the recent momentum that pushed U.S. shares to fresh records on Friday as investors weighed the outlook for policy support and signs the deployment of a vaccine may be nearing. The pound fell as concern grew on a Brexit deal. The S&P 500 notched a fresh all-time high on Friday, when equity futures in Japan and Australia climbed. Treasuries ended last week with the benchmark yield just under 1%, the highest in nine months. The pound retreated as investors questioned how close Britain and the European Union are to sealing a final Brexit trade agreement. U.S. payrolls figures Friday showed a less-than-forecast increase, fueling hope in some corners for more federal relief.

Catching Fish

Brexit negotiations resumed in Brussels amid signs that one of the biggest obstacles to a trade deal is on the way to being resolved. As the U.K. and European Union strive to finalize a deal before Monday evening, a compromise on the longstanding stumbling block of access to British fishing waters is starting to emerge, two people with knowledge of the discussion on both sides said. That would leave the issue of the level competitive playing field as the main remaining hurdle.[Bloomberg]

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

US & Asia Overnight from Bloomberg

A global equity rally showed signs of stalling Monday as investors weighed signs the deployment of a vaccine may be nearing against renewed U.S.-China tensions. Treasuries were steady with the benchmark yield near its highest in nine months at just under 1%.

Asian shares traded mixed with Hong Kong stocks underperforming, while U.S. and European contracts edged down. The S&P 500 Index notched a fresh all-time high on Friday. Testing the positive sentiment Monday was news that the U.S. is preparing sanctions on some Chinese officials. The yen ticked higher and the dollar traded flat.

Elsewhere, oil edged lower after a fifth straight weekly advance. Australian bonds fell. The pound pared an early decline amid concern about a Brexit deal.

Investors are warming toward the prospect of more U.S. stimulus after payrolls figures Friday showed a less-than-forecast increase. On the virus front, a senior U.S. health official said all Americans who want a vaccine should be able to get one by the second quarter of next year and that vaccinations could begin as early as Friday.

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

Not much movement so far from Friday's close on the futures and we are hovering around the 6560 resistance level. The bulls will be keen to push past this as it opens up a test of the key fib at 6582, and also R1 at 6590. That said, I wouldn't be surprised if we get a slight overshoot of these as the bulls might want to see 6600 printed as its the round number. That would tie in with another test of the 3700 resistance level on the S&P (and a possible overshoot/stop hunt of the early bears) to 3705. That may also see the FTSE manage to test the daily resistance level at 6610 which is right in the middle of R1 and R2.

If the S&P fails to push on much today then we may well see a bit of consolidation and possibly a bit of a pull back from these levels, mainly as the daily RSI's are quite high still. 68 for the FTSE and 73 on the S&P. We are also at Extreme Greed 89/100 on the scale here.

Brexit is once again at the forefront of the FTSE movements, and Fridays late drop on cable (GBPUSD) helped the FTSE to get that 6560 resistance level. The 2 hour chart remains bullish and is showing support at 6527 (and rising) to start with today, so that may well tie in with a test of the pivot at 6535 this morning which should hold as initial support.

If the bulls were to break above the 6610 level then 6625 is R2, but more importantly is the top of the 10 day Raff channel at 6648 which I think we would likely see. That would also be yet another bull Monday with a decent rise before a possible drop back tomorrow. If cable continues to slide then that should in theory help the FTSE 100 is rise today.

For the bears, a break of 6535 will likely lead down to S1 at 6501. Below this we have the key fib at 6484, the 2 hour coral at 6460 (and rising) the the 200ema on the 30m at 6470. As such, should the bears take it tis 6460/6480 area then we may well see. bounce here later on. That said, I am not thinking we get that low unless the S&P starts to decline today. 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 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"]