28th March 2018 – FTSE 100 Trading signals
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From a V shaped day on Monday as the bulls fought back, to an inverse V day yesterday as fear gripped markets again and the US sold off sharply, erasing the earlier gains. The FTSE 100 managed a climb to 7040 before dropping back to 6920, while the S&P500 dropped off the 2680 level to retest 2600. The sell-off in technology shares spooked investors assessing threats to earnings growth for the industry that propelled last year’s rally. Coupled with some geo-political tensions over Russian “diplomats”, rate rises, debt levels and unwinding of QE and investors are unsure where the next driver of growth is going to come from.
The bears will be keen to break 6910 today as that keeps 6800 open to them as a target, while the bulls will be wanting the FTSE 100 back above 7000. They need it above 7130 to invalidate the bearishness. Can they put in a rise today/tomorrow for a better looking end to Q1?
FTSE 100 Trading Signals, Forecast and Prediction
Volatility is certainly back with a bang. It remains a bearish outlook and the chance of testing the 6800 area remains high, however with the next 2 days key to showing how quarter 1 ends, we may see a bit of a climb. The bulls tried yesterday but were scuppered by the tech sector in the US dragging everything back down.
For today we have decent looking support at the 6910 level on the 2 hour chart and if we do get an initial dip to this area it looks like it is worth a long.
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