Discussion Forum for trading analysis, help, signals and trading

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

Forum Navigation
Please or Register to create posts and topics.

Trending day possibly with 7515 7590 resistance | 7475 7438 support

FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 29th March 2023

Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba’s stock soared on the internet behemoth’s plans to split into six units.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.82% higher, while Japan’s Nikkei advanced 0.49%.

Looking a bit more optimistic for today with the bulls looking like they want to recapture the 7500 level. The ASX200 put in a decent shift with a rise today and we may well follow suit. After the bearishness of last week a bounce is probably due. The S&P500 will also be looking to break above the 4000 level and make it stick as that then brings 4040 into view.

Initial resistance today is at R1 7513 so we may well see a rise to there to start with, then a drop back down to test the support and daily pivot at the 7474 area. If that holds and the bulls do take control then ultimately I am still looking for a rise to test the daily level at 7590.

If the bears break below 7474 though then the 7438 S1 level would be next up and the bulls would also be firmly on the back foot as the bears would probably try and drive it lower. We also have the key fib at 7428 for today. 7407 is then S2 and near enough to the 7400 round number that you would expect a reaction if it got that low. I don't think it will but you never know!

If the bulls can break the 7513 level to start with then it may well turn into a bit of a trending day with that 7590 the target through it feels like we are moving back into buy the dips mode. The S&P500 is certainly looking like it wants to get some more upside, and we have that seasonality to bear in mind as mentioned on Monday. Mid march lows then up we go.....

Not much on the news front today either so looking at it from a charting perceptive we have bullish 2h charts across the board, gold front running once again as it continues its slide from the 2000 level and now I am back from holiday the markets can calm down 🙂

Not too much more to say really. Good luck today and look to buy the dips.

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