Thin trading this week | Dow 20000 | 7155 FTSE 100 | Trading help

FTSE 100 Support 7078 7060 7057 7035 7018
FTSE 100 Resistance 7094 7128 7155 7180

Good morning. Just a short post today with some levels to look for, hope you are all having a good time if celebrating Christmas. Trading will be very thin this week, may well see 20,000 on the DOW as well. 7155ish on the FTSE is possible too. Am just going to be doing the FTSE this week but have put the Raff channel charts for the others below.

US & Asia Overnight from Bloomberg

Asian stocks advanced in thin trading, with Indonesian shares headed for their biggest two-day gain since February. Oil was poised to end its longest winning streak in four months and the yen weakened for a second day.

The MSCI Asia Pacific Index advanced for the first time in seven days. The Jakarta Composite Index climbed the most in more than a month, while more than twice as many stocks on Japan’s Topix index rose than declined. Crude was lower after rising for seven straight days. The yen fell the most among major currencies against the dollar.

Trading has been thin across the globe during the last week of the year, with volume on the Topix about 45 percent below the 30-day average on Wednesday. Investors have displayed resilience in the face of shocks such as the Brexit vote and Donald Trump’s presidential win, sending the dollar to the highest level in more than a decade and propelling U.S. equity benchmarks to records.

“The environment isn’t bad, but with some foreign investors away on vacation, there are few participants and the market lacks momentum to push prices beyond recent highs,” said Chihiro Ohta, a Tokyo-based senior strategist at SMBC Nikko Securities Inc.

Stocks

The Jakarta Composite Index jumped 1.9 percent, extending Tuesday’s 1.5 percent gain. Two straight weeks of losses through Friday dragged down stock valuations, attracting buyers, according to PT Ciptadana Securities.
The Topix was flat, with about 10 percent of companies in the benchmark measure trading without the right to receive the next dividend. Data showed Japan’s industrial output rose the most in five months in November as export volumes rebounded sharply, while retail sales showed their first monthly gain since February.
India’s S&P BSE Sensex rose 0.3 percent, extending Tuesday’s 1.6 percent gain following the recent decline to a five-week low.
South Korea’s Kospi index fell 0.7 percent, the most in two weeks.
Hong Kong’s Hang Seng Index erased an intraday decline of 0.4 percent as trading resumed for the first time since Friday. The gauge is trading near the lowest level since July. The Hang Seng China Enterprises Index advanced 0.7 percent and the Shanghai Composite Index lost 0.4 percent.
Australia’s S&P/ASX 200 Index was up 1 percent after holidays Monday and Tuesday. New Zealand’s S&P/NZX 50 Index was little changed.
The S&P 500 Index extended its monthly advance on Tuesday with a gain of 0.2 percent. The Nasdaq Composite Index rose to an all-time high and the Dow Jones Industrial Average approached 20,000.

Commodities

Crude futures slipped 0.1 percent to $53.84 after advancing 1.7 percent Tuesday. Prices are set to recover next year as production cuts help rebalance an oversupplied market, Saudi Arabia’s Energy Minister Khalid Al-Falih said last week. OPEC and 11 nations from outside the group including Russia have agreed to trim about 1.8 million barrels a day from January.
Gold was up 0.4 percent at $1,143.01, climbing for a third day from an 11-month low.

Currencies

The yen slipped 0.1 percent to 117.57 per dollar after falling 0.3 percent Tuesday.
The dollar was lower against most other major currencies, falling 0.4 percent against the New Zealand dollar and 0.3 percent against the Australian dollar.
The Bloomberg Dollar Spot Index was down 0.1%, still trading near the highest level in more than a decade.
[Bloomberg]

FTSE 100 Outlook and Prediction

The 30 min chart is looking bullish with this little rise this morning, showing support at the 7077 area which tallies with the pivot too. I am fully expecting the Dow to try for 20k this week which will probably drag the FTSE up with it. Might not see bears piling in there though as it maybe a bit too obvious so a possible overshoot to trigger some stops? For the FTSE I am looking at resistance at 7091, 7128 and 7155 for the next few days trading.

For support below the 7077 area today I am looking at 7057, 7018 and 7033.