FTSE 100 Reaches a Bearish Order-Block

Market Analysis – April 25

FTSE 100 has soared to the bearish order-block resting at the 7887.0 supply zone. The price is at extreme premium levels. The market is well overbought on the daily timeframe, as seen on the Stochastic indicator. A shift in market structure is currently anticipated to foster a bearish reversal in the market.

FTSE 100 Key Levels

Demand Levels: 7622.0, 7311.0, 7079.0
Supply Levels: 7887.0, 8200.0, 8400.0

FTSE 100 Long-Term Trend: Bullish

The market ascended through a parallel after the formation of a double bottom above 6820.0. The Parabolic SAR (Stop and Reverse) led the candles away from the oversold level of 6820.0 as seen in the stochastic oscillator.

After pushing above the 7887.0 resistance level, the price experienced a breakout from the parallel channel. Without a retest, the price dived straight into the support level of 7311.0. Just after the formation of the last candle, which was a pin bar, a Parabolic SAR (Stop and Reverse) indicated the initiation of a price rise.

FTSE 100 Short-Term Trend: Bullish

The market has reached the premium price of 7887.0 at the 78.6% retracement level on the A crack in the market structure is anticipated to provide shorting opportunities to sell to 7622.0.

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