FTSE 100 (UKX) Is in an Uptrend, Targets Level 6890.20

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

FTSE 100 (UKX) Long-term Trend: Bullish
FTSE 100 is in an uptrend. On March 3 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that UKX will rise to level 1.272 Fibonacci extension and reverse. On March 9, the price action has confirmed the Fibonacci tool analysis as UKX reached level 1.272 Fibonacci extension and pulled back. A further upward move is likely.

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping upward indicating the trend. Presently, the share is at level 58 of the Relative Strength Index. It indicates that the UKX is in the uptrend zone and above the centerline of 50.

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4-hour chart, the share is in an uptrend. On March 9 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the share will rise to level 1.618 Fibonacci extensions or level 6890.20.

4-hour Chart Indicators Reading
The share is above the 80% range of the daily stochastic. It indicates that the share is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) share is rising after a pullback from the recent high. Yesterday, the share reached a high of level 6786.80 and pulled back. UKX is resuming a fresh uptrend. According to the Fibonacci tool, the share will rise to level 1.618 Fibonacci extensions or level 6890.20.



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