20th April 2018 – FTSE 100 Trading signals – Learn to trade the markets
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A relatively flat day on the FTSE 100 yesterday ahead of option expiry today. During the session, the bulls were not able to break above the 7340 resistance area, and after the bell the bears took it down to 7300. However, a bullish charge, helped by Carney talking down the pound, and oil prices continuing to strengthen, rushed it up to the daily resistance level at 7355 in the evening and overnight we have remained at 7345, despite a weaker Asia session, and a decline in US markets yesterday. The S&P broke below 2700, and looks to be heading for the daily support at 2672.
FTSE 100 Trading Signals, Forecast and Prediction
We have option expiry today so expect some choppy movement from 10:10 till 10:20 this morning. It can be possible, if you are quick, to short the expiry move if it rises and we can follow this more in the live room. For today I am expecting the bulls to build on last nights rise and target the resistance levels that are around the 7380 to 7400 level. If they do manage to get the price up to there then we may see some profit taking ahead of the weekend and a dip back down towards 7350.
Bloomberg’s Asia Report here
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