1st October 2018
The FTSE 100 closed out September just above the 7500 level and managed to fight off the bears during Fridays session. I am expecting a little kick up further this morning as its the start of a new month and quarter, so the bulls may be able to pull away from the 7500 area that has held on the futures, towards the 7550 resistance area.
Asian stocks saw a mixed start to the final quarter of the year in holiday-thinned trading. U.S. equity futures, Canada’s dollar and Mexico’s peso all climbed as American and Canadian negotiators reached a deal to preserve a three-way trade bloc with Mexico.
FTSE 100 Trading Signals, Forecast and Prediction
For today I am watching the 7550 level for resistance again (we dropped off this during the early hours of Friday) and have R1 and a key fib in this area for today) and 7475 and 7450 for support.
The US remains pretty bullish, with the S&P climbing away from the 2900 level once again. Talk of 3000 plus is starting to come through though, so once that gets louder it will be time to get a bit more cautious on the bullish side. (they were talking of 8000 for the FTSE in May this year as we got to 7900 and then fell so its usually a decent contrarian indicator).
Membership
If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
Results
I keep a record of all the trades communicated to members via the morning email trade plan and those alerted live. See the results here.
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
- Telegram Chat room and webinar group membership for discussion and realtime trade updates