FTSE 100 Makes Bullish Attempt

Market Analysis – January 1

The FTSE 100 index has expanded its consolidation range, showing bullish reversals at the lower demand level of 8022.0. This movement signals the potential for a stronger trend in the lower timeframes. Recently, the market experienced a bullish surge from the 8022.0 level, suggesting a structural shift to the upside on shorter timeframes.

FTSE 100 Key Levels

Demand Levels: 8200.0, 8145.0, 7918.0
Supply Levels: 8500.0, 8600.0, 8700.0

FTSE 100 Long-Term Trend: Bullish

The 8145.0 demand level has consistently acted as the primary support for the consolidation phase since May. However, the price recently extended below 8145.0 to 8022.0, triggering a reversal. In December, as in October, the price approached the resistance boundary of the consolidation at 8396.0. The Stochastic indicator revealed an overbought condition at this point, leading to a decline below 8145.0 to 8022.0.

When the market reached the oversold region at 8022.0, as indicated by the Stochastic, a bullish surge followed. This movement propelled the price upward within the consolidation range, reflecting renewed bullish momentum.

FTSE 100 Short-Term Trend: Bullish

On the 4-hour timeframe, the market is trading above the 20-period and 50-period Moving Averages, signaling a shift in market direction. The expansion of the consolidation range has created room for a well-defined bullish trend to develop on the lower timeframes. This positions the market for a potential short-term bullish trend, with traders closely monitoring price action for further confirmation.
By observing forex signals and technical indicators, investors can better anticipate potential market shifts within the FTSE 100 index.

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