FTSE 100: A Break Higher Than 7570 May Be A Buy Signal


lower as expected to test strong Fibonacci support at 9100/9080. Longs need stops below 9060. A break lower is a sell signal targeting 9000/8990 then support at 9010/8990.

Our longs at 9100/9080 target 9145 and resistance at 9190/9200 for profit-taking. Further gains are less likely but should target 9260/65 and perhaps as far as 9300/9320. If we unexpectedly continue higher however look for 9350/55 before a retest of what should be strong resistance at 9400/16. A break above 9430 is a buy signal.

finally tests support at 14350/300 for some profit-taking on our shorts with low for the day exactly as predicted – longs could still be risky – if you try, stop below 14200. A break lower is the next sell signal targeting 13950/850.

Minor resistance at 14540/580 but above 15610 can target strong resistance at 14750/850. Shorts need stops above 14950.

outlook is more negative now. We could target first support at 7435/25 but longs here are probably risky. Best support at 7365/45. Longs need stops below 7325.

Resistance at yesterday’s high of 7530/50. Shorts need stops above 7570. A break higher (and weekly close above for confirmation) is a buy signal into next week.

holding between first resistance at 135.60/50 and first support at 134.50/30, with a low for the day yesterday as predicted. Maybe we can trade this range before the NFP number today. Longs need stops below 134.10. A break lower targets 133.50/40.

Shorts at 135.60/50 stop above 136.80. A break higher targets 136.25/35. Further gains today can allow a retest of this week’s high at 137.40/52. A break higher can target 137.90/99.

Video Analysis:

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