FTSE100 Buyers Aim for 8000.000 Key Zone  

Market Analysis – April 11th 

FTSE100 buyers aim for 8000.000 key zones. Over the past week, buyers in the FTSE100 index have been gaining momentum steadily. Their primary objective is to breach the significant level of 8000.000 and continue trading beyond it.

The bulls have been charging ahead with determination for quite some time now. Earlier this year, sellers attempted to push the index lower, targeting the 7456.700 significant level. However, their efforts were thwarted by the overwhelming buying force in the market. 

FTSE100 Key Levels

Resistance Levels: 8025.000, 7858.000 
Support Levels: 7594.000, 7262.000

FTSE100 Long-Term Trend: Bullish

Above the 7594.000 significant level, the index experienced a period of consolidation before resuming its upward trajectory. Last month, there was a notable spike in the momentum indicator, indicating a strong surge in buying activity.

The market witnessed a significant breakthrough beyond the 7958.000 level, further reinforcing the bullish sentiment. However, at the beginning of this month, there was a slight decline in buy strength as sellers entered the stage. This coincided with the buyers’ struggle to surpass the 8000.000 price level. The momentum indicator also reflected this decline.

FTSE100 Short-Term Trend: Bullish

Despite the temporary setback, the buyers are now making a concerted effort to gain more traction and reach the coveted 8000.000 significant level. The moving average crossing acts as a support line, providing the necessary impetus for the buyers to keep pushing forward. Gradually, they are inching closer to their target, demonstrating resilience and determination.

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