Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FTSE 100: Still Short Of 7420

Published 18/07/2017, 08:40
Updated 14/05/2017, 11:45

Well we had the bull Monday yet again so will we get the bear Tuesday? The Asian markets declined, along with the S&P/ASX 200, halting a 6 day surge that pushed the regions shares to the highest since 2008. I am still running a portion of the FTSE 100 7420 short from yesterday with the stop currently set to 7415 locking in 5 points. Have taken some profit on the dip down to 7400 as you know.

For today I am thinking that we may well also see a decline, and inflation data at 0930 may well help that. The 2 hour chart is bearish still, with resistance from the coral at the 7413 level. There is the daily pivot at 7405 for initial resistance with 7429 higher up where we have the top of the 20 day Bianca channel. I mentioned yesterday that we may well range between 7350 and 7450 for the early part of this week, so if we do get a drop it will be interesting to see if the bulls can defend again. They managed to bring it up on Friday from the 7365 area to back above 7400 but global concerns may well weigh on it today.
Daily channels

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.