15th March 2018 – FTSE 100 Trading signals
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No initial dip yesterday on the FTSE 100 with a slow rise up to the 7175 resistance level that did then see a reaction with a drop down to 7105 overnight. The bulls have fought back though with futures prices recapturing the 7140 level. The trend remains bearish though for the moment, until the bulls can break the 7182 level, and a rise towards 7370 is possible.
US retail sales figures missed expectations yesterday halting the US markets early climb, with the S&P dropping from 2775 to an overnight low of 2740. The lackluster retail sales data provided the last major economic indicator prior to the Fed’s policy decision next week.
The war of words between the UK and Russia continues, but I expect will peter out into nothing. 23 Russian diplomats expelled from the UK so May can appear to be doing something, they will expel ours, new ones come in and then all back to the beginning.
FTSE 100 Trading Signals, Forecast and Prediction
For today we are starting with a bit of an early bullish sentiment. We have climbed off the overnight lows having tested the 7100 area and bottom of the recent range, and the 30minute chart is looking like we might see an initial rise again. Could well be a bit of a repeat of yesterday with a rise up towards the coral resistance level on the 2 hour chart at 7182. We also have a key fib level at 7193.
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