S&P 500, FTSE 100 Technical Forecast For Next Week

0
14


S&P 500, FTSE 100 Analysis and News

  • S&P 500 | Upside Stalls, Critical Support Zone in Focus
  • FTSE 100 | Makes Key Downside Break Heading into Seasonably Unfriendly Month

S&P 500 | Upside Stalls, Critical Support Zone in Focus

The S&P 500 has struggled to push higher in recent sessions and thus fails to close the early March gap. That said, key support zone is situated at 3200-3214, failure to hold raises the likelihood that the index could begin a bearish reversal. Below 3200, initial support resides at 3110, in which a break below exposes 3050. On the flipside, a close above 3300 is needed to invalidate the near-term bearish reversal.



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily -12% -2% -5%
Weekly -18% 5% -2%

S&P 500 Price Chart: Daily Time Frame

S&P 500 Price Forecast

Source: IG

10 Most Popular Candlestick Patterns

FTSE 100 | Makes Key Downside Break Heading into Seasonally Unkind Month

As we mentioned previously, 6082, which marked the bottom of the recent range had been vital in keeping the FTSE 100 afloat. However, failure to hold saw the index quickly break below 6000, which in turns the FTSE 100 test support at 5890 (38.2% Fibonacci). Near term resistance is now situated at 6000, as such, below this level leaves the index vulnerable to further losses. Keep in mind as we head to August, seasonality does not favour notable upside for equities.



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily 0% -4% -1%
Weekly 15% -22% 4%

FTSE 100 Price Chart: Daily Time Frame

FTSE 100 Forecast

Source: IG

RESOURCES FOR TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here