FTSE100 (UKX) Continues Its Sideways Move below 5750 Resistance

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.

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

FTSE 100 (UKX) Long-term Trend: Bearish
The share is still faced with the resistance at 5750. The bulls broke the resistance level but could not sustain the upward move. The price is declining and may fall below the resistance level. On the downside, if price falls and breaks below 5500, the downtrend will resume. Conversely, FTSE 100 will resume upward, if the bulls break and sustain price above 5750. An upward move to 6750 is expected if the bulls are successful.

UKX – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are still sloping downward indicating bear market. The share is at level 50 of the Relative Strength Index. The market is neither below nor above the centerline 50.

FTSE 100 (UKX) Medium-term Trend: Bearish
On the 4-hour chart, the market is in an upward move. FTSE 100 share has been trading below 5750 resistance since March 25. The bulls have failed to break the resistance level as price continues its sideways move below 5750.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The share is above 40% range of the daily stochastic. It is currently in a bullish momentum. The moving averages are sloping upward indicating the upward move. The bullish momentum has been weak and the share fails to rebound.

General Outlook for FTSE 100 (UKX)
UKX is in a sideways move below the resistance at 5750. The bulls are yet to break the resistance after four unsuccessful attempts. The market is fluctuating below the resistance. The range-bound movement will continue until the current resistance is breached.

Note: Learn2Trade.com 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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.