FTSE100 Buyers May Initiate A Breakout Towards the 7793.200 Key Level

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Market Analysis- March 25th

FTSE100 buyers may initiate a breakout towards the 7793.200 key level. Despite the challenges posed by a sideways market, the FTSE100 bulls have shown relentless efforts over the past few months. Their determination to break through key levels has been evident, with notable moves observed since the middle of February. One such move was the breakthrough above the 7603.600 level, which marked a significant milestone for the buyers.

Prior to that, in January, there was a pullback from the 7391.300 level, followed by a fresh move towards higher ground. These actions by the bulls indicate their strong intent to command a breakthrough in the market.

FTSE100 Price Levels

Resistance Levels: 7985.600, 7793.200
Support Levels: 70.600, 7391.300

FTSE100 Long-Term Trend: Bullish

To confirm the bullish trend, buyers will need to successfully breach the 7793.200 significant zone on the daily charts. Last week, there was an attempt by the buyers to demonstrate their strength and break through, but it resulted in a breakdown due to rejection. However, it is important to note that rejection does not necessarily indicate a reversal of the trend. If buyers face rejection, it is more likely that the market will continue its sideways movement.

FTSE100 Short-Term Trend: Bullish

Analyzing the price oscillator indicator, we can observe that the signal line is already gaining momentum once again. This suggests that buyers still have the potential to make further upsurges with greater intensity. However, to pursue these upward movements beyond the 7793.200 price level, buyers need to break out of the current trending range. The trend can be followed on forex signals.

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