FTSE100 Is in a Sideways Move as It Struggles Below 7560 High
Login

FTSE100 Is in a Sideways Move as It Struggles Below 7560 High

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Ranging
FTSE 100 (UKX) price is making an upward correction it struggles below 7560 high. The index was earlier in a downward move as it fell to the low of level 7339. UKX is trading now between the moving averages. It is above the 50-day line SMA but below the 21-day line SMA. The index will be compelled to a range-bound move if the moving average lines remain unbroken. UKX will resume an uptrend when the 21-day line SMA is breached. In the same vein, the market will decline when the 50-day line SMA is breached.

FTSE100 Is in a Sideways Move, Unable To Sustain Above 7560
UKX – Daily Chart

Daily Chart Indicators Reading:
UKX is at level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The 21-day line SMA and the 50-day line SMA are sloping horizontally indicating a sideways trend. The index price bars are between the moving averages indicating the sideways move.

FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, UKX is in a downward correction. The index corrected upward but faced rejection at level 7550. Presently, it is fluctuating between the moving averages. UKX will continue its range-bound move if the price fluctuates between the moving averages.

FTSE100 Is in a Sideways Move as It Struggles Below 7560 High
UKX – 4 Hour Chart

4-hour Chart Indicators Reading
UKX is below the 80% range of the daily stochastic. The index is in a bearish momentum. It was earlier in the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend. The index price bars are between the moving averages which indicate a possible range bound move.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is in a downward correction it struggles below 7560 high. The index is likely to be range-bound between the moving averages for a few more days

You can purchase crypto coins here: Buy LBlock


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News