Tuesday, August 7, 2018

FTSE 100 - 08 August 2018


Fundamental Highlights

Stock prices in London are seen opening slightly lower on Wednesday as data showed strong growth in US-Chinese trade, suggesting companies are rushing to fill orders as the trade war escalates. Markets rebounded on Tuesday in absence of any further trade war developments.

Technical Analysis

The UK Index is still trading in the same range since July and this volatility is perfect for short-term traders. I don't expect any imminent change to this market anytime soon. The RSI looks bearish suggesting short-term downside momentum.

Support: 7625 7560
Resistance: 7695 7770

Chart (H4)