Technical Indicator
Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100
FTSE 100 (UKX) Long-term Trend: Bearish
FTSE 100 is in an upward correction but faces rejection at level 7000. The upward move is facing rejection at the 21-day line SMA or the resistance at level 7000.UKX could have resumed an uptrend if buyers have broken the resistance at level 7000. UKX price is making a series of lower highs and lower lows patterns. The selling pressure will terminate once price pattern is interrupted. Meanwhile, the 6800 support has been held since September 29. According to the Fibonacci analysis, UKX will decline but reverse at level 1.272 Fibonacci extension or level 6644.81.
Daily Chart Indicators Reading:
The upward correction has pushed UKX to level 42 of the Relative Strength Index for period 14. The index price has failed to break above the 21-day line SMA. This implies that FTSE 100 may further decline as price bars remain below the moving average lines.
FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, UKX is in an upward correction as price breaks above the moving average lines. The upward move is repelled at level 7000 resistance level. Since September 26, buyers have retested the resistance level on four occasions to break it. UKX may further decline from the recent high.
4-hour Chart Indicators Reading
The index is in a bearish momentum below the 80% range of the daily Stochastic. The moving average lines are sloping downward indicating the downtrend. The price bars are between the moving average lines indicating a possible range-bound move of the index.
General Outlook for FTSE 100 (UKX)
Since September 29, FTSE 100 has been trading above level 6800 support but faces rejection at level 7000. The current support is the historical price level of March 2022. Sellers have retested the current support twice but failed to break it.
You can purchase crypto coins here: Buy LBLOCK
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.