FTSE 100 Continues Southward Drift as Momentum Weakens Further

FTSE 100 Analysis – July 2

FTSE 100 continues its downward drift as momentum weakens further. The FTSE 100 Index remains bearish, reflecting declining momentum and a weakening trend across major technical indicators. The daily MACD has made a bearish crossover below the signal line and is trending lower, confirming a loss in bullish strength. The 9-day SMA, now around $8,760, has shifted from support to dynamic resistance. This combination of factors indicates a change in sentiment, with sellers gaining control over buyers.

FTSE 100 Key Levels

Resistance Levels: $8,900, $9,000, $9,200
Support Levels: $8,480, $8,110, $7,540

FTSE 100 Long-Term Trend: Bearish

Price action continues to respect the $8,910–$8,840 zone as a supply region, consistently rejecting bullish advances, as seen in the formation of bearish candlesticks below this level. The recent swing failure above $8,840, followed by a close beneath the 9-day moving average, signals a decline in bullish momentum. A decisive break below short-term support near $8,700 further reinforces the bearish bias, as market structure now favors lower highs and lower lows.

Looking ahead, the price is likely to test the $8,480 support level. If selling pressure remains strong, further downside targets may include $8,110 in the medium term. This bearish outlook remains intact as long as price stays below the $8,840 resistance zone, as indicated in recent forex signals.

FTSE 100 Short-Term Trend: Bearish

FTSE 100 has broken below the ascending trendline, confirming a bearish setup. Price action was rejected at the order block zone and failed to reclaim the $8,840 resistance level. Currently, price is testing a fragile ascending support; a breakdown from this level could lead to a move toward the $8,480 area. The MACD remains below the zero line, further validating the prevailing bearish momentum.

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