FTSE 100 Attacks Swing High of 8415.0

Market Analysis – August 29

The FTSE 100 index, in August, experienced a sharp and volatile price crash. Within just three days, the market plunged nearly 6%, reflecting intense selling pressure. However, the market has since rebounded, forming a bullish market structure as it now targets the swing high that initially triggered the downturn, offering promising forex signals for traders.

FTSE 100 Key Levels

Demand Levels: 8,236.0, 8,110.0, 7,917.0
Supply Levels: 8,484.0, 8,500.0, 9,000.0

FTSE Long-Term Trend: Bullish

The index price crash in early August was marked by the formation of three consecutive large red candles, often referred to as “three black crows,” highlighting the intensity of the selling momentum. A sudden spike in the volume indicator revealed significant shorting by large market participants, signaling a calculated move. The price dip abruptly halted at a bullish order block around 7,922.0, confirming strong demand in that area.

Since then, the market has formed a higher high and higher low, indicating a clear bullish ascent. This upward movement now threatens the swing high of 8,415.0, suggesting a potential bullish break of structure and more forex signals for market participants.

FTSE Short-Term Trend: Bullish

In the short term, the price has retraced to a bullish order block on the four-hour chart, where it found support. The moving average is also providing additional support, reinforcing the bullish outlook. As the price fluctuates, a breakout above the swing high of 8,415.0 is anticipated, which could trigger further upward momentum.

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