FTSE100 Falls Back to 7787.00

Market Analysis – April 17th

FTSE100 falls back to the 7787.00 price level. At the moment, the FTSE100 is experiencing a setback, with the price falling back to the 7787.00 level. The sellers are currently attempting to break through this market barrier and push the price even lower. 

Looking back at the past few days, it is evident that the sellers have been consistently making waves in the market. This recent surge by the sellers comes after a prolonged period of consolidation above the 8046.00 price level.

FTSE100 Key Levels 

Resistance Levels: 8046.00, 7787.00
Support Levels: 7456.00, 7260.00

FTSE100 Long-Term Trend: Bullish

A few months ago, the buyers displayed resilience as they gained momentum from the significant zone at 7456.00. As the market moved forward, it found support above the 7594.00 level before consolidating once again. Eventually, the buyers managed to push the price higher, reaching a significant level of 8000.00.
 
However, the sellers have now launched an attack, causing the price to fall back. The buyers are facing a formidable opponent and need to gather strength to overcome this challenge. The momentum indicator has been responding to the buyers’ recent defeat.

FTSE100 Short-Term Trend: Bullish

This signals the need for a confidence boost to reverse the price trend. With the sellers targeting the 7787.00 price level, we will likely witness a further downward break shortly. The RSI (Relative Strength Index) shows the seller’s pulling strength. More intensity from this point can lead to a breakout yielding for bearish flow. 

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