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Things continue to escalate with markets dropping | 7380 7338 7280 support | 7460 7500 7515 resistance

#1 · 22nd February 2022, 10:00 am

Quote from Nick on 22nd February 2022, 10:00 am
FTSE 100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

The FTSE 100 shed its early gains Monday as tensions in Ukraine are keeping global markets on edge despite attempts to defuse the crisis. London's leading index fell 0.4pc to close at 7,484, before slumping further after the bell. Overnight we have seen the 7380 daily support level tested with what could be another weak day ahead.

Russian stocks have posted their biggest fall since the global financial crisis as fears mount that a war with Ukraine is imminent. The benchmark MOEX Russia Index slumped as much as 14pc, while the dollar-denominated RTS Index slid 17pc, notching up the biggest decline since 2008. Russian stocks tumbled across the board, though state-owned energy giant Gazprom and financial services group Sberbank were among the biggest fallers.

Stocks slid Tuesday on intensifying tension between the West and Russia over Ukraine, a standoff that’s bolstering oil prices and leading investors to seek the relative safety of sovereign bonds and bullion.

An Asia-Pacific share gauge fell toward its lowest level this month, including sharp declines in Hong Kong, where Chinese technology firms dropped and Russia-based aluminum producer United Co. Rusal International PJSC sank the most since 2018.

European equity futures shed about 1%. U.S. contracts pointed to a lower Wall Street open when trading resumes after a holiday. Treasuries climbed, taking the U.S. 10-year yield below 1.90%. The dollar was steady and gold -- the traditional haven during upheavals -- held gains.

Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine and ordered the Defense Ministry to send what he called “peacekeeping forces” to the breakaway regions.

Western leaders condemned the latest moves and the U.S. prepared to announce new sanctions against Russia. The U.S. has warned of a possible Russian invasion of Ukraine, a claim the Kremlin has repeatedly rejected.

FTSE 100 live outlook prediction analysis for 22nd February 2022

Well that got all rather bearish yesterday and just goes to show how one headline can flip the market. Sentiment is obviously still pretty fearful and with the test of 7380 overnight the bears can smell the blood in the water. Below that then the next key level is 7280 and a level that I would expect to hold, though depending on the backdrop with Ukraine it may not!

Initially I can see a rise towards the daily pivot and red 30m coral line at the 7455 area before another drop off, probably down to retest the 7380 daily support and overnight low. We may well get a second bounce there if there is a bit of risk taking in the air, though again it may only get as far as the daily pivot.

Below 7380 then we have S1 at 7338 and also the bottom of the 20d Raf here, so could see that hold initially, though as mentioned 7280 is stronger daily support below that. S2 is down at 7262 and then we are not far off the 200ema on the daily at 7214. So some fairly spread out support levels coming into play for today.

Above the 7455 level then the bulls would be looking to take this back to 7500 round number and also the key fib at 7502 here, and then above this the 7521 200ema on the 30m is the next level of note. Seems a big ask to be thinking about getting back into the 75xx area though with the news flow as it is, though as yesterday showed you just need one bullish action instead and up we go.

The US markets are back open today after the public holiday for Presidents Day yesterday and the US doesn't like to miss out on the move so we may well see a rise and dip play out on that. It will be interesting to see if the S&P can defend the 4260 level as there is in theory decent support here. A possible long is worth a go here.

So, could well be another interesting day with the news flow dictating events, though there are some decent levels to watch. 7380 again, then 7280 for support. 7455 7500 and 7520 for resistance. 4260 on the S&P also looking fairly key.

Good luck today.

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

The FTSE 100 shed its early gains Monday as tensions in Ukraine are keeping global markets on edge despite attempts to defuse the crisis. London's leading index fell 0.4pc to close at 7,484, before slumping further after the bell. Overnight we have seen the 7380 daily support level tested with what could be another weak day ahead.

Russian stocks have posted their biggest fall since the global financial crisis as fears mount that a war with Ukraine is imminent. The benchmark MOEX Russia Index slumped as much as 14pc, while the dollar-denominated RTS Index slid 17pc, notching up the biggest decline since 2008. Russian stocks tumbled across the board, though state-owned energy giant Gazprom and financial services group Sberbank were among the biggest fallers.

Stocks slid Tuesday on intensifying tension between the West and Russia over Ukraine, a standoff that’s bolstering oil prices and leading investors to seek the relative safety of sovereign bonds and bullion.

An Asia-Pacific share gauge fell toward its lowest level this month, including sharp declines in Hong Kong, where Chinese technology firms dropped and Russia-based aluminum producer United Co. Rusal International PJSC sank the most since 2018.

European equity futures shed about 1%. U.S. contracts pointed to a lower Wall Street open when trading resumes after a holiday. Treasuries climbed, taking the U.S. 10-year yield below 1.90%. The dollar was steady and gold -- the traditional haven during upheavals -- held gains.

Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine and ordered the Defense Ministry to send what he called “peacekeeping forces” to the breakaway regions.

Western leaders condemned the latest moves and the U.S. prepared to announce new sanctions against Russia. The U.S. has warned of a possible Russian invasion of Ukraine, a claim the Kremlin has repeatedly rejected.

FTSE 100 live outlook prediction analysis for 22nd February 2022

Well that got all rather bearish yesterday and just goes to show how one headline can flip the market. Sentiment is obviously still pretty fearful and with the test of 7380 overnight the bears can smell the blood in the water. Below that then the next key level is 7280 and a level that I would expect to hold, though depending on the backdrop with Ukraine it may not!

Initially I can see a rise towards the daily pivot and red 30m coral line at the 7455 area before another drop off, probably down to retest the 7380 daily support and overnight low. We may well get a second bounce there if there is a bit of risk taking in the air, though again it may only get as far as the daily pivot.

Below 7380 then we have S1 at 7338 and also the bottom of the 20d Raf here, so could see that hold initially, though as mentioned 7280 is stronger daily support below that. S2 is down at 7262 and then we are not far off the 200ema on the daily at 7214. So some fairly spread out support levels coming into play for today.

Above the 7455 level then the bulls would be looking to take this back to 7500 round number and also the key fib at 7502 here, and then above this the 7521 200ema on the 30m is the next level of note. Seems a big ask to be thinking about getting back into the 75xx area though with the news flow as it is, though as yesterday showed you just need one bullish action instead and up we go.

The US markets are back open today after the public holiday for Presidents Day yesterday and the US doesn't like to miss out on the move so we may well see a rise and dip play out on that. It will be interesting to see if the S&P can defend the 4260 level as there is in theory decent support here. A possible long is worth a go here.

So, could well be another interesting day with the news flow dictating events, though there are some decent levels to watch. 7380 again, then 7280 for support. 7455 7500 and 7520 for resistance. 4260 on the S&P also looking fairly key.

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