2nd May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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We got the early rise yesterday morning as the new month money came in, but the bulls were only able to almost reach the fib resistance at 7554 before we then dropped back down over the rest of the day to a low of 7500. The US then helped to pull the FTSE back up, with Apple results helping the S&P recover from its lows at 2630. For the FTSE the 7550 level is still the line in the sand and a break above this is likely to reach the 7580 level.
FTSE 100 Trading Signals, Forecast and Prediction
With the bulls fighting back last night from 7500, I think we might see the push towards the 7579 fib level resistance this morning. A lot will depend on the cable price again, which has dropped down to 136 now as the pound weakens. That helps the FTSE 100 to rise as FTSE 100 companies make the majority of their money overseas. With earnings its been a bit of a choppy week so far, with the 7490 support level and 7550 resistance level still holding and neither breaking as yet.
Bloomberg’s Asia Report here
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