25th June 2018
With trade wars still at the forefront of traders minds, we may well see risk off start to the week as we continue the decline that that saw emerging-market equities tumble last week. The FTSE 100 futures have dropped overnight and down nearly 50 points from Fridays close, with 7607 once again appearing on the chart as the line in the sand that the bulls will need to defend.
World debt ratios have spiralled to record levels during the era of super-easy money and markets are showing tell-tale signs of late-cycle excess, leaving the international financial system acutely vulnerable to a jump in borrowing costs. Any reversal in our fortunes could be “quick and sharp”, says the Bank for International Settlements, the venerable global watchdog based in Switzerland and the scourge of dissolute practice. The warnings cascade from the BIS’s annual report released over the weekend, always a sobering read for investors and central bankers alike.
FTSE 100 Trading Signals, Forecast and Prediction
Initial resistance is at the 7700 area just above where we topped out on Friday after that strong climb once the 7600 resistance level broke. The bulls however, have 3 main hurdles to jump and that is resistance at 7714, 7750 and 7793. All three of these looks pretty strong resistance levels so it will be interesting to see if they get reactions.
Bloomberg’s Asia Report here
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