Option Expiry and triple witching | 7188 resistance | Trading analysis and signals

Election looms with the jitters starting | Hung parliament possible | 7215 7165 7081 support | 7255 resistance | FTSE 100 live

16th March 2018 – FTSE 100 Trading signals

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Its been quite a choppy week on the FTSE 100 which has made it hard to trade it. The FTSE 100 only managed to get as low as 7125 from 7160 in what was a fairly slow session for the FTSE – I thought it would slowly rise a bit higher towards the 7190 level before dropping back, so was even flatter. Does mean that 7190 is still resistance for today though, with 7155 first.

The S&P held its lows at 2740, having dropped off 2763 (exactly!) and has meandered around 2750. More countries have joined the chorus against Russia, who the US now say have been repeatedly hacking their infrastructure over the past 12 months.

It is option expiry today and “triple witching”. Triple witching occurs when the contracts for stock index futures, stock index options and stock options expire on the same day, being today. Triple witching days happen four times a year on the third Friday of March, June, September and December.


FTSE 100 Trading Signals, Forecast and Prediction

With the lower 7125 support area holding yesterday and the Dax rising after its initial fall, the 2 hour charts on both the Dax and the FTSE 100 have gone bullish, with support at 12290 and 7129 respectively. As such we may well see the bottom of the recent range at 7100 being the short term low and we could well get a rise back towards the 7300 level.

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