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UK Inflation out on Wednesday | buy the rumour | 7360 7382 7405 resistance | 7285 7247 support

#1 · 14th November 2022, 11:49 am

Quote from Nick on 14th November 2022, 11:49 am
FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 14th November 2022
Friday saw the bears drop the FTSE100 down from the 7420 level which is now the line in the sand to break for further upside. As a result the 2h chart has gone bearish to start the week with the 7360 level as key resistance to start with today. That also ties in with the daily pivot and just above the red 30m coral, so we may well see an initial rise to that level then a drop down from there.
The bulls will need to defend the 7300 level really, though 7285 is also daily support just below that. As such, to keep the bullish trend alive for the moment they won't want to see a break of that. On the bulls side is the S&P500 which has a bullish 2h chart still and decent support at the 3940ish area so we could well see a defence of that this morning on any slide, which would probably also help the FTSE100 put in a rise off its support.
Above the 7360 initial resistance level 7382 is the key fib and then R1 at 7405 above that. The bulls could push that high if we get a decent bull Monday, though the ASX200 was not particularly inspiring for the bulls today. So we may pick up on that sentiment too. R1 also aligns with the top of the 20d Raff channel.
Support wise, below the 7285 level the bears will be looking for 7247 where we have S2, along with daily support at 7250, and the 200ema on the daily. As such, should we see this area then I would like to see that hold.
We also have yet another UK budget this week, with the Autumn Statement on Thursday. We could see some bullishness ahead of that play out with the usual buy the rumour kicking in. UK inflation figures on Wednesday also, with a slight dip forecasted. If we follow the USA pattern from Friday and we also have a lower figure we could well get a bullish Wednesday.
Can see it being flat to slightly bullish today, dip Tuesday and then a climb on Wednesday.
Good luck today.
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FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help

FTSE100 live outlook prediction analysis for 14th November 2022

Friday saw the bears drop the FTSE100 down from the 7420 level which is now the line in the sand to break for further upside. As a result the 2h chart has gone bearish to start the week with the 7360 level as key resistance to start with today. That also ties in with the daily pivot and just above the red 30m coral, so we may well see an initial rise to that level then a drop down from there.

The bulls will need to defend the 7300 level really, though 7285 is also daily support just below that. As such, to keep the bullish trend alive for the moment they won't want to see a break of that. On the bulls side is the S&P500 which has a bullish 2h chart still and decent support at the 3940ish area so we could well see a defence of that this morning on any slide, which would probably also help the FTSE100 put in a rise off its support.

Above the 7360 initial resistance level 7382 is the key fib and then R1 at 7405 above that. The bulls could push that high if we get a decent bull Monday, though the ASX200 was not particularly inspiring for the bulls today. So we may pick up on that sentiment too. R1 also aligns with the top of the 20d Raff channel.

Support wise, below the 7285 level the bears will be looking for 7247 where we have S2, along with daily support at 7250, and the 200ema on the daily. As such, should we see this area then I would like to see that hold.

We also have yet another UK budget this week, with the Autumn Statement on Thursday. We could see some bullishness ahead of that play out with the usual buy the rumour kicking in. UK inflation figures on Wednesday also, with a slight dip forecasted. If we follow the USA pattern from Friday and we also have a lower figure we could well get a bullish Wednesday.

Can see it being flat to slightly bullish today, dip Tuesday and then a climb on Wednesday.

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 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