21st May 2018 – FTSE 100 Trading signals – Learn to trade the markets
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Over the weekend China acquiesced to some of Trumps trade demands over the “trade wars” and the US won’t impose tariffs on Chinese products for the moment. As such, expect Monday to be bullish, with the 7855 level still looking like resistance in the very short term. The two nations on Saturday released a joint statement in which China proposed to “significantly increase purchases” of U.S. goods. Friday had already seen the double top with January’s highs at 7796, and a slight overshoot of this level saw a few bears manage to drop the FTSE down to 7770ish. Futures moved to 7834 and probably triggered a few stops as well.
FTSE 100 Trading Signals, Forecast and Prediction
We now have a gap at 7775 to fill from Friday, and with the current price as I write this sitting just above the 7800 level. For Monday I am thinking a buy the dip play is probably the best bet, with 7775 as the main level of support for a run towards the 7855 area.
Bloomberg’s Asia Report here
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