Talking Points The FTSE 100 is short-term bullish above Friday’s low of 6034. The U.S. ISM manufacturing index beating ...
Talking Points
The FTSE 100 is short-term bullish above Friday’s low of 6034.
The U.S. ISM manufacturing index beating economist expectations allowed the FTSE 100 to trade higher.
Key data for today: U.S. ADP Employment Change report, U.S. Crude Oil Inventories, and the Fed’s Beige book.
The FTSE 100’s breach of the January 29 high of 6129 triggered buy orders as projected and the short-term trend is now bullish above Friday’s low of 6034. The next strong resistance level and likewise target for bullish traders is the January 29 high of 6322. Traders who did not enter in line with yesterday’s breakout might try to enter on a pullback to the breakout level of 6129 with stops below Friday’s low.
Supported on U.S. ISM Manufacturing
While the FTSE 100 was bid from the start of yesterday’s session and made an attempt to break the January 29 high, it was not until the release of the U.S. ISM manufacturing index that the FTSE established itself above the January 29 high.
The ISM beat a Bloomberg News economist consensus projection by rising to 49.5 vs. the 48.5 expected. The chair of the ISM, Brad Holcomb said of the ISM Index that it ‘may have found a bottom.’
Key data for today is the U.S. ADP Employment Change report and the latest Bloomberg News survey projects that 190 000 new jobs were created, lower from 205k in January. U.S. Crude Oil Inventories are expected to rise by 3.4m barrels and in the evening the Fed will publish its ‘Beige book.’
The FTSE 100 is short-term bullish above Friday’s low of 6034.
The U.S. ISM manufacturing index beating economist expectations allowed the FTSE 100 to trade higher.
Key data for today: U.S. ADP Employment Change report, U.S. Crude Oil Inventories, and the Fed’s Beige book.
The FTSE 100’s breach of the January 29 high of 6129 triggered buy orders as projected and the short-term trend is now bullish above Friday’s low of 6034. The next strong resistance level and likewise target for bullish traders is the January 29 high of 6322. Traders who did not enter in line with yesterday’s breakout might try to enter on a pullback to the breakout level of 6129 with stops below Friday’s low.
Supported on U.S. ISM Manufacturing
While the FTSE 100 was bid from the start of yesterday’s session and made an attempt to break the January 29 high, it was not until the release of the U.S. ISM manufacturing index that the FTSE established itself above the January 29 high.
The ISM beat a Bloomberg News economist consensus projection by rising to 49.5 vs. the 48.5 expected. The chair of the ISM, Brad Holcomb said of the ISM Index that it ‘may have found a bottom.’
Key data for today is the U.S. ADP Employment Change report and the latest Bloomberg News survey projects that 190 000 new jobs were created, lower from 205k in January. U.S. Crude Oil Inventories are expected to rise by 3.4m barrels and in the evening the Fed will publish its ‘Beige book.’
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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