Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Market Analysis- March 19th
FTSE100 trades towards a crossroad for breakout. This week, the buyers have demonstrated a measure of strength, starting from the key level of 7609.000. Prior to this surge, the index price had been consolidating on neutral ground. However, the bulls made a move with a bullish candlestick, propelling the price up to the significant level of 7789.000. The immediate intention for the buyers is to exert stronger pressure to breach this level.
FTSE100 Price Zones
Resistance Zones: 7789.000, 7609.000
Support Zones: 7377.000, 7256.000
FTSE100 Long-Term Trend: Bullish
If the buyers fail to break through the 7789.000 level, the sellers may seize the opportunity to push the price lower. A strong attack from the sellers could cause the price to drop below the key level of 7789.000. Traders should be prepared for both scenarios and closely monitor the price action for any signs of a breakout or reversal.
On the daily chart, the momentum indicator, specifically the Chainkin oscillator, has signaled a spike of up to 200k. This suggests strong bullish momentum. However, traders should exercise caution, as this spike could potentially flip lower during the week. The stochastic oscillator, another important indicator, may also open the door for sell traders to enter the market soon.
In this short time frame, it appears that the buyers may be reaching their limit. Finding an escape at the moment might seem impossible. The stochastic oscillator still indicates an overbought condition, further supporting the idea that a pullback or reversal may be imminent. Traders should closely monitor the price action and consider forex signals for potential entry opportunities.
FTSE100 Short-Term Trend: Bullish
The buyers have shown strength, pushing the price higher. However, they must exert even stronger pressure to breach the significant level of 7789.000. On the other hand, the sellers may take advantage of the opportunity to push the price lower if the breakout fails to materialize. Traders should closely monitor momentum indicators and the stochastic oscillator for potential shifts in market dynamics.
You can purchase Lucky Block 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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.