FTSE 100 Faces Bearish Pressure and Resumes Downtrend
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FTSE 100 Faces Bearish Pressure and Resumes Downtrend

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Azeez Mustapha

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Market Analysis – July 5th

The FTSE 100 index finds itself under bearish pressure as it continues to face challenges in its attempt to reverse the prevailing downtrend. On June 30th, a bearish break in the market structure occurred, indicating a continuation of the downward movement.

Following this break, the market underwent a pullback phase, only to resume the bearish institutional order flow.

FTSE 100 Key Levels

Demand Levels: 7798.0, 7240.0, 7108.0
Supply Levels: 7620.0, 7689.0, 7786.0

FTSE 100 Faces Bearish Pressure and Resumes Downtrend

FTSE 100 Long-Term Trend: Bearish

The FTSE 100 price action demonstrates a bearish sentiment, as evidenced by the rejection candle that formed at the supply level of 7620.0.

This rejection was followed by six consecutive days of downward closing, resulting in a substantial decline of approximately 3.71 percent.

Although a retracement occurred after another rejection candle, pushing the price halfway into the premium region, the market is currently showing a steady decline, aiming to reach the long-term swing low at 7398.0.

This indicates the prevailing bearish sentiment and reinforces the expectation of further downward movement in the FTSE 100 indexFTSE 100 Faces Bearish Pressure and Resumes Downtrend

FTSE 100 Short-Term Trend: Bearish

Both the 4-hour and 24-hour time frames confirm the continuation of the bearish trend in the FTSE 100 index. Additionally, the Moving Averages with periods of 9 and 21 are positioned above the candlesticks, further supporting the bearish momentum and signaling a potential decline in the price.

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