FTSE 100 (UKX) Is in a Sideways Trend as Bulls and Bears Reach Indecision

15 July 2021 | Updated: 15 July 2021

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

FTSE 100 (UKX) Long-term Trend: Bullish
UKX index upward move has been facing rejection at level 7200. Since May 7, the resistance at level 7200 is yet to be broken. Meanwhile, on July 13 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that UKX is likely to rise but reverse at level 1.272 Fibonacci extension or level 7198.64.

UKX – Daily Chart

Daily Chart Indicators Reading:
UKX is at level 49 of the Relative Strength Index. The index has reached the midpoint of the market. It indicates that there is a balance between supply and demand. The 21-day and 50-day SMAs are sloping upward indicating the trend.

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4 hour chart, FTSE is in a sideways move below level 7200. Meanwhile, on July 13 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that UKX will rise to level 1.618 Fibonacci extension or level 7254.05.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
FTSE 100 is below the 60% range of the daily stochastic. It indicates that the market is in bearish momentum. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is still stuck at level 7200. Since May the index has been in a sideways move below the overhead resistance. According to the Fibonacci tool, FTSE 100 will rise to level 1.618 Fibonacci extension or level 7254.05.


You can purchase crypto coins here: Buy Tokens

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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.