FTSE100 (UKX) Fluctuates Without a Major Price Movement


Resistance Level: 7,500, 7, 600, 7,700
Support Level: 7,300, 7,200, 7,100

FTSE 100 (UKX) Long-term Trend: Ranging
Unexpectedly, FTSE 100 shares have remained stagnant in the last 48 hours. There seems to be no price movement between February 14 and February 16. FTSE 100 shares have been ranging all through last year. It has a price range of between 7,100 and 7,700. Traders can adopt a range-bound strategy to trade the share price fluctuation.

As price falls to the lower price range, a long trade should be initiated. These long trades should be exited near the upper range. You adopt a similar process when share price fluctuates to the upper price range. All you need is to place a short trade at the upper range, and then you exit near the lower price range.

UKX - Daily Chart

Daily Chart Indicators Reading:
FTSE 100 share is over 50% range of the daily stochastic. It indicates that the share is in bullish momentum. Also, the 21-day and 50-day SMA are slanting horizontally indicating the sideways trend.

FTSE 100 (UKX) Medium-term Trend: Ranging
On the 4-hour chart, the share was in a downward move in January but moved up in February. FTSE 100 share fell to the support of 7,300 and resumed an upward move. The upward move was broken up and it resumed the downward move. FTSE 100 share resumes the downward movement to a low of 7407.

UKX - 4 Hour Chart

4-hour Chart Indicators Reading
On the 4- hour chart , the share is on level 40 of the Relative Strength Index period 14 specify that the market is in the bearish trend zone. It is also beneath the centerline 50 which points to the fact that the share will fall.

General Outlook for FTSE 100 (UKX)
The share has remained in a sideways trend between 7,100 and 7,700. After the bearish double top pattern that was formed at the upper price range, price movement was concentrated at the lower price range.

The Stochastic is indicating that FTSE 100 share is in bullish momentum. This is contrary to the price action. Conversely, the Relative Strength Index period 14 has indicated that FTSE 100 (UKX) share is likely to fall.

FTSE 100 (UKX)Trade Signal
Instrument: FTSE 100 (UKX)
Entry price: NO SIGNAL

 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

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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.