Market Analysis – December 24
The FTSE 100 remains in a long-term downward trend, although a bullish retracement has emerged. Since testing the critical demand level of 8022.0 on the daily chart, the index has demonstrated notable price gains, reflecting short-term bullish momentum within a bearish structure.
FTSE 100 Key Levels
Demand Levels: 8022.0, 7918.0, 7783.0
Supply Levels: 8251.0, 8318.0, 8396.0
FTSE 100 Long-Term Trend: Bearish
From November to December, the FTSE 100 experienced a gradual and slowed ascent, signaling bull exhaustion. On the 4-hour chart, candle sizes diminished as the price approached the key resistance at 8396.0, initiating a selloff.
The Supertrend indicator confirmed bearish sentiment, forming a red cloud during the pullback to the 8318.0 resistance zone. Furthermore, a double-top pattern reinforced expectations for further declines, sparking significant bearish momentum.
FTSE 100 Short-Term Trend: Bullish
In the short term, the Stochastic indicator identified oversold conditions at the 8022.0 demand level, leading to a rebound. While the overall market structure remains bearish, the FTSE 100 has advanced by 1.78% since testing this demand zone. Currently, the price is approaching a lower-timeframe bearish order block at 8188.0, where resistance is expected to reinforce the continuation of the selloff. 
This level is a critical point for traders to monitor closely in the coming sessions. Forex signals have highlighted the importance of this resistance zone in assessing the potential for further bearish movements. The FTSE 100’s current price action reflects a bearish correction, with the potential for continued declines if resistance levels remain intact.
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