FTSE 100 (UKX) Resumes Upward, Battles the Overhead Resistance at Level 7200

22 July 2021 | Updated: 22 July 2021

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

FTSE 100 (UKX) Long-term Trend: Bullish
UKX index is making an upward move. The index is rising to retest the overhead resistance at level 7200. If the bulls break the overhead resistance the upward move will resume. In the previous price action, the index has been in a sideways trend. Each time the overhead resistance is retested the market will fall to level 7000 and resume upward.

UKX – Daily Chart

Daily Chart Indicators Reading:
UKX is at level 46 of the Relative Strength Index. The index is in the bearish trend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the trend. The price bars are below the moving averages which indicate a possible decline.

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4 hour chart, FTSE is in an upward move. The price has broken above the moving averages which indicate a possible rise of the index. Meanwhile, on July 20 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that UKX will rise to level 2.618 Fibonacci extension or level 7112.71.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
FTSE 100 is above the 80% range of the daily stochastic. It indicates that the market is in bullish momentum. Also, the index has reached the overbought region of the market. Sellers are likely to emerge. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is likely to resume an upward move. There is the possibility of a further upward move as price is in the bullish trend zone. According to the Fibonacci tool, FTSE 100 will rise to level 2.618 Fibonacci extension or level 7112.71.

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.