5th June 2018 – FTSE 100 Trading signals – Learn to trade the markets
U.S. stocks reached the highest since mid-March, tracking peers in Europe and Asia as optimism over the world’s largest economy helped investors put protectionist fears aside. Treasuries fell, pushing yields up for a fourth consecutive trading session. The S&P 500 strengthened for a second day. The gold short at 1298 worked well and am still holding that for a run lower. On the FTSE 100 and Dax we got the rise and dip scenario, though the bulls took it a bit higher past the main resistance levels. The FTSE 100 has dropped back from the 7770 level, and is now showing support at 7670 so any dip to that area today is worth a long.
Highlights today include EZ, UK and US services PMI, US ISM non-manufacturing, APIs, BoE’s Cunliffe and ECB’s Weidmann
FTSE 100 Trading Signals, Forecast and Prediction
I think we may have a bit of a flat day ahead, following the indecisiveness in Asia during Tuesday, and also on the ASX200. I mentioned support at 7670 above and if we did get that low then a long here is worth taking. There is however, some support higher up at 7689 for S1 and the fib level at 7683, so the bulls may use these as an entry point on any dip this morning.
Bloomberg’s Asia Report here
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