FTSE 100 Bullish Order-Block Fails to Hold

Market Analysis – May 24

FTSE 100 market outlook has turned bearish due to the failure of the daily bullish order block to hold. Liquidity regions resting at the lows formed in March are expected to pull the price.

FTSE 100 Key Levels

Supply Levels: 7696.0, 7972.0, 8100.0
Demand Levels: 7434.0, 7302.0, 7085.0

FTSE 100 Long-Term Trend: Bearish

FTSE 100 continues to display brilliant price action with strong trends and massive volatility. The FTSE 100 market’s Bull run was initiated in October after a double bottom pattern formed to establish the reversal. Downward trends were short-lived due to the impulsive ascent in the market. December and Late January featured significant pullbacks before the real change of trend in March.

The volatile sell-off was characterized by pockets of inefficiently traded regions. The ascent from 7302.0 closed up the gaps created by the impulsive price crash.

FTSE 100 Short-Term Trend: Bearish

The demand level of 7696.0 and the bullish order block below the demand level have failed to sustain the ascent. The price is currently on a free fall toward the 7437.0 support level.

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