FTSE 100 Sustains Bullish Momentum With Upward Structural Integrity

FTSE 100 Analysis – August 6

The FTSE 100 sustains its bullish momentum with upward structural integrity. The FTSE 100 Index continues to display a clear bullish bias, with price action holding above the 9-day SMA at approximately $9,120.

The Moving Average Convergence Divergence (MACD) indicator remains in positive territory, indicating sustained upward momentum despite recent minor pullbacks. Since the reversal in early April, the index has consistently formed higher highs and higher lows, in line with broader market optimism and reinforcing investor confidence in the prevailing uptrend.

FTSE 100 Key Levels

Resistance Levels: $9,200, $9,350, $9,520
Support Levels: $8,900, $8,480, $8,110

FTSE 100 Long-Term Trend: Bullish

The price recently tested the $9,190 zone, which aligns with the 0% Fibonacci retracement level of the current measured move, before experiencing a slight pullback. This movement is supported by a cluster of Fibonacci levels between $9,050 and $9,080, forming a demand area and near-term support. The index’s ability to hold above $9,000 has been vital in maintaining bullish sentiment, with the $8,910 region offering secondary structural support if needed. Consolidation above these levels points toward accumulation rather than distribution, preparing the market for a possible breakout.

Looking ahead, consistent closes above $9,200 would likely strengthen bullish momentum toward the $9,350 intermediate resistance, with $9,520 as an extended target. If buying pressure persists, the market could register a new yearly high within this range before facing notable profit-taking. On the other hand, a drop below $9,000 could spark a corrective move toward $8,910, though such a decline would still fit within the overall bullish structure. In the broader outlook, the path of least resistance remains to the upside, supported by both market sentiment and timely forex signals.

FTSE 100 Short-Term Trend: Bullish

The FTSE 100 remains bullish on the four-hour chart, with trading holding above the 9-period SMA at around $9,140. Price action is comfortably above the $9,060 and $9,000 support levels, highlighting strong underlying demand.

The MACD is stabilizing near the zero line, suggesting momentum may resume upward after consolidation. A break above $9,200 would likely pave the way toward $9,350 in the near term.

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