Just going to keep this fairly brief today but the 7535 resistance level that we have had in place for this week was finally reached yesterday and we got a bit of a bearish action from it, with a drop down to just below 7500. The bulls have fought back a bit overnight and we are at 7515 for the open today. Oil sank from a five-week high after OPEC extended plans to limit production without deepening the cuts.
FTSE 100 Outlook and Prediction
Once again the 7535 looks key and if we get there today could set up a decent double top with yesterday, and a test of R1 at 7540. However, if the bulls manage to push above this then 7567/7570 are the next areas of resistance of note. We have the top of the 10 day Bianca at 7567 and a key fib level at 7570. A short around here would be worth a go.
On the support side, the bulls have defended the 7500 level that was tested yesterday with the drop from 7535. We have S1 at 7497 today, with a key fib level lower down at 7471, just below S2 which is 7475.
Want more detailed analysis? Then please join our 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
- WhatsApp and webinars group membership for discussion and realtime trade updates
Free still strong ..no surprises lol
I’m going going for a BIG short from 7548 if it gets there, target 7276.
Gold longs are doing nicely!
You expect a move like that in 1 day?
Would be great if it happened.
I really want to see the Nasdaq tank..
I need some really bad news to come out about Apple,Google,FB or Amazon
Anyone one of them, i dont care who
There it is baby – short from 7548 for me!
This could be it about now.
Been holding gold for 2 weeks sitting on nice profits if it can get over 1275 could break out.
Nothing guaranteed in gambling!
We shall mark this Friday as the start of Bear Season.
Good luck all !
FTSE powers on despite falling oil. I dont like correlation. TodaY you would have to correlate FTSE strength to weak pound but ignore oil. It doesnt work. Gold is strong despite dollar strength today. Only play one chart. Dont look for correlations or reasons. My gold position is several thousands up today. Reason would dictate taking that profit as the dollar moves higher. I have learned to ignore reason and aim for unreasonable profits.
Aw. Go and cry to your Mommy. Asshole.
7548 – TIMBERRRRRRRRR
With you at 52 Si. Fingers burnt but all in