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UK100 trade ideas

FTSE 100 Drops Below June LowEarlier we wrote about the reasons for the weak behavior of the UK stock market. Firstly, it is the highest inflation among the G7 countries. Yesterday JP Morgan analysts suggested that the base rate in the UK could be raised to 7% under certain scenarios. And the likelihood of a hard landing for the British economy next year is rising due to the impact of rising borrowing costs on business confidence and rising unemployment. Secondly, this is a decline in commodity prices, which is important for the FTSE 100 index, where the share of oil and mining companies is relatively large. Commodity prices reflect expectations of a global economic growth outlook that has been overshadowed by news from China. There, according to the latest data, activity in the services sector in June grew at the slowest pace in 5 months. At the same time, the FTSE 100 chart gives hope to the bulls, as the price of the index is at the level of the lower line of the descending channel (shown in red), which, it is possible, will show support properties for the FTSE 100, which may lead to a slowdown in the fall or even a short-term rebound. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:UK100
by FXOpen
1
Consolidation today | 7467 7440 support | 7521 7540 resistanceA strong showing from the S&P500 yesterday also helped the FTSE100 climb well off the 7405 daily support level, after a brief move down below the 7430 support as well. Today may well see some consolidation, particularly for the S&P500, and also probably the FTSE 100 which now looks like it’s on its way to test the upper daily resistance levels at 7520 and 7545. Initially today we have support at the 7467 level with the daily pivot ad the now green30m coral here, and as such we may well see a hold of this level to tee up a climb to the 7520 level. If the bears were to break below this level then the 7440 offers the next key support with the Hull MA here on the 2h, and also S1 for today. 7421 below this is the key fib. That said I think we will more likely see a flat to slightly bullish day and an expecting more upside over the following sessions. Do bear in mind that seasonality again which had the weakness for the second half of June before resuming the bullishness to start July. Worst case though below 7440 is the S2 level at 7398 and round number here too. The daily candles this week have long tails which shows there is good buying pressure at the moment. And onto the bullish side of the coin, 7520 and 7545 as mentioned are the main levels to look out for today and a test of the 7520 looks quite likely. 7540 might well be a stronger stumbling block as we have have R2 and the top of the 10d Raff here, and it would also be a decent profit point for those long form the 7405 daily support yesterday.
TVC:UKXLong
by hilsdentrading
UK 100 FORECAST Hi there, Looking at UK100 index which is approaching a MAJOR support level OB. Uk100 has currently wicked some liquidity below the Lows of 1 june and forming some bullish hammer candles. But we want to see some big hammer candle or bullish engulfing candle to enter for longs as well as change of character on the trend. 4hr time frame = bearish 1hr time frame = bearish = shorting between from 7530 or 7500 range to major support 15mins time frame = bearish = shorting from 7500 to 7450 daily frame = 100pts from major support. RSI showing small convergence.
CAPITALCOM:UK100
by PositronXY
UK100 to find sellers at psychological level?UK100 - 24h expiry The current move lower is expected to continue. Short term RSI has turned negative. Rallies continue to attract sellers. Risk/Reward would be poor to call a sell from current levels. A move through 7425 will confirm the bearish momentum. We look to Sell at 7500 (stop at 7525) Our profit targets will be 7425 and 7400 Resistance: 7475 / 7500 / 7525 Support: 7450 / 7425 / 7400 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:UK100GBPShort
by OANDA