Ftse 100 (Ukx) Is in an Upward Move, Targets Level 6025

Ftse 100 (Ukx) Is in an Upward Move, Targets Level 6025

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

FTSE 100 (UKX) Long-term Trend: Ranging
FTSE 100 is still in a sideways move. The index is currently fluctuating between level 5780 and 6100. Today, the market is rising to the upper price range.

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 46 of the Relative Strength Index. The market is in a downtrend zone and below the centerline 50.


FTSE 100 (UKX) Medium-term Trend: Ranging
On the 4-hour chart, the share is in a sideways move. On October 16 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the index will rise and reach level 1.618 Fibonacci extension. That is a high of 6025.20.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. It indicates the market has reached the overbought region. Sellers will emerge at the overbought region to push prices to do. The 21-day and 50-day SMAs are sloping in a sideways move.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) share is in a sideways move. The price is in the bearish trend zone. Sellers may emerge to push prices down. In the meantime, the market is rising and may reach a high of level 6025.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.