FTSE100 Buyers May Lose Out of the Race
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FTSE100 Buyers May Lose Out of the Race

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Azeez Mustapha

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Market Analysis – December 2

FTSE100 buyers may lose out on the race. The current market conditions for the FTSE100 index indicate that buyers may struggle to make significant progress. As a result, market volatility has remained relatively low for weeks.

FTSE100 Significant Levels

Resistance Levels: 7735.000, 7654.500
Support Levels: 7315.500, 7213.900

FTSE100 Buyers May Lose Out of the Race

FTSE100 Long-Term Trend: Bullish

The buyers have been attempting to gain attention and initiate a strong upward push, but they have not made major progress. On the other hand, the sellers have been countering the buyer sentiment without making any significant advances. At the start of this month, the buyers demonstrated their aggressive stance by fighting against the selling pressure. They managed to push the price up from the significant level of 7315.500 in November. However, their attempts to reach the important zone around 7544.300 fell short.

Several technical factors could explain why the buyers failed to reach the 7544.300 significant level. One possible reason is the presence of strong resistance at that level, which prevented the price from advancing further.

On the daily chart, the sellers appear to be gaining strength and closing the gap against the buyers’ buildup. With lower volatility in the index price, overall market movement has remained relatively subdued. The Moving Average Crossing indicator suggests that there is increasing interest from sellers settling in for the long term.

https://learn2.trade/ftse100-bears-gain-upper-hand

 

FTSE100 Short-Term Trend: Bearish

However, on the daily chart, the Relative Strength Index (RSI) does not provide a clear indication of market direction. Market conditions can change rapidly, and the balance of power between buyers and sellers can shift. At the moment, the market direction appears to favor the sellers, suggesting that the buyers may be losing the race.

 

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