FTSE 100 Sets to Move Strongly in a Bullish Rise

FTSE 100 Analysis – February 19

FTSE 100 is poised for a strong bullish rise toward key resistance levels. The 9-period SMA at $8,750 serves as dynamic support on the FTSE 100 daily chart, displaying robust bullish momentum. The histogram bars are beginning to fade, suggesting a possible brief reversal before the uptrend resumes. However, the MACD remains bullish. Although the signal line is still positioned above the MACD line, indicating that buyers maintain control as the price nears significant resistance.

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

Following a distinct break of structure (BOS) at $8,380, price action supports a bullish outlook, signaling higher highs and higher lows. The market recently tested resistance at $8,800, experiencing mild rejection but still holding above $8,690, a crucial short-term support. A strong daily close above $8,800 would confirm continued bullish momentum, while failure to maintain support at $8,690 could lead to a deeper pullback.

Given the prevailing bullish trend, the most probable scenario is a continuation toward $9,000, with the potential to extend to $9,200 if buyers sustain pressure. However, a short-term retracement to $8,690 or even $8,380 remains a possibility before the next upward movement.

FTSE 100 Short-Term Trend: Bullish

FTSE 100 continues its bullish trajectory on the four-hour chart, supported by an ascending trendline. Although the price is currently pulling back, it remains above $8,690, with the $8,800 resistance level acting as a key barrier.
The 9-period SMA at $8,750 aligns with dynamic support, while MACD is slightly weakening, indicating a potential short-term correction before further upside. If the trendline holds, FTSE 100 is likely to rebound toward $9,000, with $9,200 as the next bullish target. Additionally, traders may look to forex signals for potential market opportunities in alignment with this trend.

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