FTSE 100 Declines Level 7500, Unable to Break Recent High

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Bullish
FTSE 100 (UKX) is in an uptrend as price breaks above the moving averages but unable to break recent high. The uptrend is facing resistance at level 7600. The index is falling because of the rejection at the recent high. Besides, the daily stochastic is indicating that the index has reached an overbought region. However, the uptrend will resume when price breaks above level 7600. Nevertheless, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that UKX will rise to level 2.0 Fibonacci extension or level 7912.02.

FTSE 100 Declines Level 7500, Unable to Break Recent High
UKX – Daily Chart

Daily Chart Indicators Reading:
UKX is at level 56 of the Relative Strength Index for period 14. UKX is in an uptrend zone and capable of a further upward move. The index’s price are above the moving averages which indicates a possible upward move. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4 hour chart, UKX is in an uptrend but it is falling after rejection at level 7600. The index will resume upward if it retraces to the support above the moving averages. Nonetheless, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that UKX will rise to level 2.0 Fibonacci extension or level 7894.40.

 FTSE 100 Declines Level 7500, Unable to Break Recent High
UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. The index is in a bearish momentum. as it has reached the overbought region.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is on an uptrend but unable to break recent high. Buyers have failed to keep UKX’s price above level 7600. According to the Fibonacci tool, further upsides are possible. That is, UKX will rise to level 2.0 Fibonacci extension or level 7894.40



You can purchase crypto coins here: Buy Token

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.