FTSE 100 (UKX) Is in a Choppy Price, May Resume Upward

FTSE 100 (UKX) Is in a Choppy Price, May Resume Upward

Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Ranging
The share has continued to consolidate sideways since June. The price is fluctuating between levels 6000 and 6500. The bulls and bears are yet to break levels of the market. The price is now consolidating near the support level.

UKX- Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping horizontally. It indicates the current sideways trend. Presently, the share is at level 53 of the Relative Strength Index. The price has fallen to the support level and resumes upward.

FTSE 100 (UKX) Medium-term Trend: Ranging
On the 4-hour chart, the share is in a sideways move. The market is presently in a choppy price action. The share is facing rejection at level 6300 but has fallen to the support level.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The market has fallen below a 50% range of the daily stochastic. It indicates that the price is in a bearish momentum. The 21-day and 50-day SMAs are sloping sideways move.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) share is still in a sideways move. Since May, price has been fluctuating between levels 6000 and 6500.



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