FTSE100 Continues to Appreciate Amidst Struggle

Market Analysis – November 18

FTSE100 continues to appreciate amidst struggle. The index has been maintaining a bullish composure for days now. As of now, buyers are still affirming their strength. Despite bearish setbacks week in and out, the focus remains on breaching the 7534.700 price zone.

The bullish recovery for the FTSE100 could be traced back to the end of last month. It was at this point that buyers began to appreciate from the significant level of 7264.800. It is worth noting that the 7264.800 key zone has not been breached by sellers in a while.

FTSE100 Market Zones

Demand Zones: 7894.600, 7629.600
Supply Zones: 7364.000, 7264.800

FTSE100 Long-Term Trend: Bullish

For months now, the bulls have been unable to surpass the 7708.500 price zone. It has been obvious that the market has been in a sideways trade. Although market liquidity has been well-spanned between both traders, the current bullish gain could see the price trade up to the 7534.700 market level. The index price already had a retest at the 7364.000 significant level. This is sure to provide a solid refuel for a breakthrough.

FTSE100 Short-Term Trend: Bullish

The Momentum Indicator is still bent in the buy direction. For now, a progressive increase in bullishness is still reflected in the market. The same also applies to the Parabolic SAR (Stop and Reverse). The bulls, however, continue to pose a threat to the selling market. A positive inclination is therefore set on course for the index market. Buy-traders should use this opportunity to establish themselves.

 

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