FTSE 100 Continues to Decline as Bears Take Control
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FTSE 100 Continues to Decline as Bears Take Control

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Azeez Mustapha

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Market Analysis – August 2nd

The FTSE 100 continues to decline as bears take control, breaking below the 7640.00 market level. After a period of bullish favor, the market saw a significant boost from the 7248.10 level in June. The buyers managed to gain momentum, pushing the price higher to a significant level of $7640.00. However, at the beginning of this week, instead of resuming bullish strength, the market began to experience a decline.

FTSE 100 Key Levels

Resistance Levels: 7794.40, 7722.30
Support Levels: 7404.70, 7248.10
FTSE 100 Continues to Decline as Bears Take Control

FTSE Long-Term Trend: Bullish

The bears took advantage of the situation and crashed the price lower in the market. Sellers successfully broke through the key zone at 7564.60. It appears that this bearish trend may continue to prevail in the market. The Stochastic Oscillator indicates a crossover that confirms the selling trend’s control in the market.

As the FTSE 100 continues its downward trajectory, traders should exercise caution and closely monitor the market’s movements. The bearish momentum and breakdown at key levels indicate sustained bearish sentiment. Traders can utilize technical indicators and market analysis to assess potential entry or exit points and adjust their strategies accordingly. The ongoing market decline presents opportunities for traders to adapt their positions and potentially capitalize on bearish movements. Close attention to the price action and confirmation from indicators can help guide traders’ decisions and manage risk effectively.

FTSE 100 Continues to Decline as Bears Take Control

FTSE 100 Short-Term Trend: Bearish

Analyzing the 4-hour time frame, it becomes evident that sellers are making significant progress in driving the price lower. A breakout from the compression phase suggests that bears have established their presence. The Parabolic SAR (Stop and Reverse) indicator aligns with the seller’s dominance in the market. It signals that sellers hold the power in the current situation. Further breaches below the 7404.70 level may be experienced in the coming days.

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