FTSE 100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
The FTSE 100 has edged up, driven by gains in miners and strong corporate updates, although a fall in cyclical stocks and industrial software company Aveva Group capped its rise. The blue-chip index advanced 0.5%, with Anglo American rising 5.2% to lead gains among miners.
Broadly, sentiment was subdued as fears grew over the global economic outlook after Russian energy giant Gazprom halted gas supplies to Bulgaria and Poland for failing to pay for gas in roubles.
U.S. equity futures and Asian stocks rose Thursday amid steadier sentiment following a surge in Facebook parent Meta Platforms Inc. and as investors digested official pledges of economic support in China.
Contracts for the Nasdaq 100 climbed over 1%, while Japan and Hong Kong led an Asia-Pacific share index higher, after Wall Street stocks eked out a gain.
Meta jumped 18% in extended trading. Facebook’s main social network added more users than projected, brightening the mood toward megacap U.S. tech firms and bolstering the biggest ETF that tracks the Nasdaq 100.
Meanwhile, the yen slid toward the closely watched level of 130 per dollar after the Bank of Japan doubled down on dovish policy, saying it would carry out fixed-rate bond buying every business day to defend its 10-year yield target.
The currency’s drop spurred some foreign-exchange market volatility: the offshore yuan retreated and a dollar gauge extended an advance.
Treasuries were little changed as investors calibrated risks from the prospect of aggressive Federal Reserve monetary tightening to tackle high inflation.
Volatility remains the watchword in markets, stoked by China’s struggle to suppress Covid, Russia’s war in Ukraine and worries that Fed tightening may tip the world’s largest economy into a recession. There are lingering hopes that robust U.S. corporate earnings could improve the mood.
FTSE 100 live outlook prediction analysis for 28th April 2022
Some decent moves yesterday with the rise from the 7350 in the end all the way to the 7460 resistance level which saw the pullback. Overnight the bulls are back on it and a decent defence of the 7400 level which bodes well for further upside today towards the 7500 25ema on the daily level.
With the recent drops the daily chart has gone bearish and this 7503 level has locked in as resistance, and for today it’s also just below R1 so we could see a stutter here. The news flow remains pretty negative and the spectre of a further interest rate rise from the BoE is looming. With reports of record tax receipts for the government and then further screw turning on cost of living expenditure it will be interesting to see the reaction, both in the markets and by the man on the street….. squeeze till the pips squeak!
For today then I am looking at the 7511 area as resistance to start with, if the bulls can push past the overnight high at 7475 and the key fib at 7484. Above this then the 7561 R2 level is the next technical level, though we have the top of the 10d Raff channel at 7541 before that.
For the bears they will be looking for an initial drop off that 7475, to target the daily pivot at the 7426 level. We also have the green 30m coral at 7437 so in theory there is decent support here. The ASX200 had a bullish session and the US futures are pointing to further upside as well for what could turn into a bullish trending day. Dead cat bounce or trend change as the US has been pretty ropey the past few sessions!?
Below the 7426 level then 7400 would be the next level to watch for and then 7380 for the key fib. 7367 is also the new 2h support with the Hull MA here so should it slide that low we could see a bounce here, though I am thinking that it is unlikely to get that low.
S&P500
Again, this looks positive for some upside today and a rise towards the 200ema on the 30m at 4265 would fit well. The key will be any drop defending the 4200 level as we have the 30m coral here. Initially we have the red 2h coral at 4232 to break and then 4241 for the key fib. Above 4266 then 4300 would likely be the bulls target being the round number 4330 for R3 could also be seen for a +100 day if they really go for it. For the bears, a break of 4200 will allow them to take it down to 4180 key fib, 4172 S1 or lower. However I think the bulls are going to have it today.
Dax40
Looks bullish also, with 13750 daily pivot support looking good, and just below the 30m coral (green) at 13765. Below this the Hull MA 2h is at 13740 so should we see a drop down to the 13750 area a long here is worth a go. Generally I am thinking that a rise towards the 13930 200ema 30m level looks likely. We also have the 2h coral (red) at 13925 to start with so this level could see an initial stutter ti get the drop down – though whether it gets down to 13750 remains to be seen.
So, generally looks like we will get a bullish day as some of the recent falls get retraced. Good luck today.
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