FTSE 100 (UKX) Is Stuck Below Level 7200 as Bulls and Bears Reach Equilibrium


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

FTSE 100 (UKX) Long-term Trend: Ranging
UKX index is retracing after retesting level 7200 resistance. Buyers have retested the resistance on four occasions but were unable to break above it. UKX will fall as it faces rejection from the recent high. The current uptrend has reached the high of level 7142 as it faced rejection from level 7200. The uptrend will resume if the overhead resistance is breached.

UKX – Daily Chart

Daily Chart Indicators Reading:
UKX is at level 56 of the Relative Strength Index. The index is in the bullish trend zone and above the centerline 50. UKX is capable of rising on the upside. 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 the overhead resistance. The index fluctuates between levels 6950 and 7200. Each time the resistance is retested the market will fall to the lower price range and the range-bound move will resume. This has been the price action since May 7.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. Since July 23, the market has been trading in the overbought region. Sellers are likely to emerge who will push prices downward. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) has not trended since May 7. The index has been in a range-bound zone. The index price has been fluctuating between levels 6950 and 7200. UKX will trend if the range-bound levels are breached. Presently, the market will fall as it reaches the overbought region.

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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

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
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
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.