FTSE 100 Falls Significantly as It Reaches Level 7133.36 Low

Updated:

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

FTSE 100 (UKX) Long-term Trend: Bullish
FTSE 100 is in a downtrend as it reaches level 7133.36 low. The index has fallen significantly to the oversold region. Presently, the market has reached the low of level 7131.69. The bearish momentum will extend to the low of level 7007.09.

FTSE 100 Falls Significantly as It Reaches Level 7133.36 Low
UKX – Daily Chart

Daily Chart Indicators Reading:
FTSE 100 is at level 27 of the Relative Strength Index for 14. The index has reached the oversold region of the market. UKX price bars are below the moving average line indicating a further decline. The moving average lines are sloping downward indicating a downtrend.


FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, UKX is in a downtrend as the altcoin fell to the low of level 7133. The index has fallen to the historical price level of level July. In July the resistance at level 7157 was breached as the index rallied to the high of level 7578.85.

 FTSE 100 Falls Significantly as It Reaches Level 7133.36 Low
UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The index is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region of the market. Buyers are expected to emerge in the oversold region of the market. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is in a downtrend as it reaches level 7133.36 low. There are bullish candlesticks in the oversold region as the market resumes upward.

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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.