FTSE 100 Finds Support At A Bullish Order Block

FTSE 100 Analysis – March 5

FTSE 100 finds support at a bullish order block in an oversold region. The FTSE 100 Index is currently responding to key technical indicators that suggest a continuation of the bullish trend. The 9-period SMA (Simple Moving Average) at $8,740 indicates that the market remains in an uptrend despite the recent pullback. The Stochastic Oscillator, currently at 40.07, is rising from oversold levels, suggesting that bullish momentum may soon resume. These indicators support the idea that the recent dip into the bullish order block presents a buying opportunity.

FTSE 100 Key Levels

Resistance Levels: $8,800, $9,000, $9,200
Support Levels: $8,370, $8,110, $7,790

FTSE 100 Long-Term Trend: Bullish

Price action indicates that FTSE 100 found support around $8,620, where it tapped into the FVG and reacted strongly. This level aligns with a previous support zone, making it a crucial area for demand. The recent dip encountered strong buying pressure, reinforcing the idea that bulls remain in control. If the market sustains this level, a move toward higher resistance levels is likely.

Looking ahead, FTSE 100 is expected to resume its bullish momentum, with the next major target at $8,800. A breakout above this level could pave the way for a rally toward $9,000, a key psychological resistance. If bullish momentum persists, the final target would be $9,200. However, a sustained drop below $8,620 could lead to further consolidation before another attempt at higher prices.

FTSE 100 Short-Term Trend: Bullish

FTSE 100 is holding support around $8,620, where it has tapped into a fair value gap (FVG) and a rising trendline. The Stochastic Oscillator, currently at 15.88, is in the oversold region, signaling potential bullish momentum.
If the price remains above this support, a recovery toward $8,770 is likely, followed by a breakout toward $9,000. Additionally, traders may consider forex signals to capitalize on potential market movements. A sustained move below $8,520, however, could delay the bullish outlook.

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