Will Syria escalate Russian v West tensions | Rise and dip today 7330 | Analysis Signals Alerts

Rise and dip today as we head towards 7230 resistance | 7350 above | 7172 support | Live trading discussion

16th April 2018 – FTSE 100 Trading signals

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Markets have opened higher now that they know the extent of the US/UK/France retaliatory strikes on Syria and in the absence of a reaction from Russia, having sold off on early fears on Friday. Helped the S&P short on Friday brilliantly though! Traders largely took the view that the U.S.-led missile strike on Syria won’t lead to a protracted conflict.

Fresh sanctions will be imposed on Russia related to Syria’s reported use of chemical weapons as the U.S. and U.K. assess the fallout and next steps after Friday night’s strike on the Middle Eastern country. The foreign ministers of China and Japan agreed to work closely to push North Korea to abandon its nuclear program, in the latest sign of improved cooperation between Asia’s two largest economies.

The data schedule for the week looks light on Monday, allowing traders a breather after last week’s FBI raids and Syrian strike. Tuesday will offer some meatier events, with China reporting first-quarter GDP along with retail sales and industrial output for March. Singapore will detail export figures, while the Reserve Bank of Australia is set to release minutes of its April meeting. Wednesday brings Japanese trade figures and Thursday New Zealand CPI, with Australian jobs data coming later on in the day. Friday will be highlighted by Japanese inflation figures for March.

FTSE 100 Trading Signals, Forecast and Prediction

For today I am thinking a rise and dip as the market breathes a sigh of relief that (at the moment anyway) the Syria bombing hasn’t led to any sort of escalation. Friday’s drop was on fears that Russia would retaliate in short order to US led attacks, which, so far at least, hasn’t happened. Out of hours on the FTSE 100 we have risen to R2 at 7295 and may well see a retest of this level once we open. It looks to be a level that is worth a short again for a drop down towards the pivot at 7261, and possibly lower at 7241.

Bloomberg’s Asia Report here


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