FTSE100 (UKX) Shares Continue to Fluctuate Indefinitely Within a Range

FTSE100 (UKX) Shares Continue to Fluctuate Indefinitely Within a Range

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

FTSE 100 (UKX) Long-term Trend: Ranging
There has been no price movement of FTSE 100 (UKX) shares between February 21 and February 23. The company stock remains the same in January, as the shares rose to a high of 7,700; whereas, in February, the price is fluctuating between the low of 7,300 and the high of 7,500.

However, in the previous year, FTSE 100 (UKX) shares can be bought at the support of 7,000 and 7,100. A shareholder can invest in shares at five different periods within the year. Similarly, shareholders can transfer such shares at the resistance level which have about four openings.

UKX – Daily Chart

Daily Chart Indicators Reading:
In the meantime, FTSE 100 shares are over 50% range of the daily stochastic. The momentum seems to be fluctuating. In the previous month, January 16, the shares were in the overbought region as the shares drop to the low of 7,300.

FTSE 100 (UKX) Medium-term Trend: Ranging
On the 4-hour chart, FTSE 100 (UKX) shares fell to the low of 7,167 in December and appreciated upward. The shares attracted more buyers while in the oversold region. The shares rose to a high of 7,655. The stock value remains the same up till the time of 2020.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
On the 4- hour chart FTSE 100 (UKX) share is on level 43 of the Relative Strength Index period 14 specify that the market is in a downtrend zone. The RSI seems to be fluctuating between downtrend zone and uptrend zone. The shares are below the centerline 50 which indicates that prices will continue to fall.

General Outlook for FTSE 100 (UKX)
FTSE 100 shares have remained in a range-bound move between 7,100 and 7,700. The stochastic indicates that the shares are in bullish momentum. In other words, we will see the shares going up. The Relative Strength Index contradicts the upward movement of shares. It indicates that shares are in the downtrend zone.

FTSE 100 (UKX)Trade Signal
Instrument: FTSE 100 (UKX)
Order: NO SIGNAL
Entry price: NO SIGNAL
Stop: NO SIGNAL
Target: 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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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.