FTSE100 Buyers Face a Minor Setback as Sellers Show Interest

Market Analysis- March 27th

FTSE100 buyers face a minor setback as sellers show interest. The buyers have been on a strong uptrend, with the index making significant gains in the past few weeks. However, their attempt to breach the 7962.000 significant level has been met with resistance from sellers. This has resulted in a minor setback for the buyers, who are yet to make another fresh attack.

FTSE100 Key Zones

Resistance Levels: 7962.000, 7807.000
Support Levels: 7607.200, 7565.000

FTSE100 Long-Term Trend: Bullish 

Last week, the FTSE100 showed great intensity for the bulls. After a prolonged period of consolidation below the 7807.000 key level, the buyers finally gained enough strength to break out. This breakout beyond the 7807.000 significant level led the index closer to the 8000.000 key level. This also happens to be a significant milestone for the buyers.
 
Despite the initial bullish momentum, the FTSE100 buyers are currently facing a challenge as more sellers enter the scene. The recent drawback in the market indicates that buyers need to regain their strength to continue their upward trajectory. 

The MACD (Moving Average Convergence and Divergence) is getting close to reaching its climax. This suggests that the buyers are treading on thin ice and need to be cautious in their approach. The RSI (Relative Strength Index) is currently seen on the overbought side, indicating a potential reversal shortly.

Market Short-Term Trend: Bullish 

As the FTSE100 buyers aim to surpass the 8000.000 significant level, there are a few key levels to watch. This includes the 7807.000 market level, which has served as significant support in the past and will be crucial for the buyers to maintain their momentum.

Also, 7962.000: The level that the buyers have failed to breach so far. A successful breakout above this level would signal renewed strength. Lastly, the 8000.000 significant level is the ultimate target for the buyers. Surpassing this level would be a significant achievement, and could lead to further gains.

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