FTSE 100 Thrives Within Expanded Market Range

Market Analysis – January 13

The FTSE 100 has shown increased dynamism as the market range widens on the daily chart. Support at 8022.0 and resistance at 8396.0 have demonstrated remarkable sensitivity, leading to reversals with each test. This behavior creates opportunities for trend-based trading on lower timeframes.

FTSE100 Key Levels

Resistance Levels: $8372.0, $8474.0
Support Levels: $8113.0, $7216.0

FTSE 100 Long-Term Trend: Ranging

The ongoing consolidation has extended from 8145.0 to a lower demand level at 8022.0, offering more room for price movement within the range.

Since the start of this consolidation phase, the 8022.0 demand level has been tested three times. During the first two tests, in August and November, the Stochastic indicator signaled oversold conditions. These signals spurred rapid price increases back to the range’s resistance ceiling at 8395.0. The inclusion of forex signals in market discussions has further enriched trading perspectives during these movements.

 

FTSE 100 Short-Term Trend: Bullish

A third test of the 8022.0 demand level has once again triggered a bullish rebound, preventing further price declines. The breakout of a bearish resistance trendline on the daily chart has confirmed the potential for continued upward movement.

With the expanded range offering better-defined trends on the 4-hour chart, the price is now anticipated to rally back toward the 8395.0 resistance level.

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