The main news over the weekend was still the ransomware attack though the impact doesn't seem to have bothered the FTSE 100 much, neither on Friday, nor on the futures prices Sunday night. North Korea fired a ballistic missile early Sunday, its seventh such test this year.
We saw a sharp rise after the bell on Friday and we are currently seeing 7447 - the all time in hours high. It looks strong still and we are into bull Monday so I am thinking that we will see a push higher - I am expecting the 7475 area which is just above the 10 day Bianca at 7464. The daily RSI(10) level is currently 72 as well so we are starting to get a little bit over excited at these levels.
FTSE 100 Outlook and Prediction
I am watching 2 main areas today, 7465 to 7480 for resistance and 7427 for support. I think we might well see reactions at both of these levels and it will be interesting to see if the bulls can make the rise from last thing Friday stick. The ASX200 had a rise and dip pattern for their Monday session, and gold has started to tick up a little bit as well, rising from the 1220 recent low area. With regards to the FTSE 100 I am also watching the GBP/USD price, which has risen back above the 12900 level. A further rise towards, and possibly above, the 130 area would normally see some FTSE 100 weakness, though the FTSE 100 bullish trend is very strong at the moment.