FTSE100 (UKX) Shares Continue Its Consolidation as Buyers and Sellers Reach Equilibrium

FTSE100 (UKX) Shares Continue Its Consolidation as Buyers and Sellers Reach Equilibrium

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

FTSE 100 (UKX) Long-term Trend: Ranging
In 2020, FTSE 100 (UKX) shares are beginning to appreciate in value when compared with the previous year. In January, the shares rose to the high of 7,700; whereas in February, the price is fluctuating between the low of 7,300 and the high of 7,500. Interesting, in the previous year, FTSE 100 (UKX) shares can be bought at the support for 7,000 and 7,100. Investors can invest in shares at five different periods within the year. Similarly, investors can transfers such shares at the resistance level which have about four openings.

UKX – Daily Chart

Daily Chart Indicators Reading:
At the moment, FTSE 100 share is over 50% range of the day stochastic. The momentum seems to be fluctuating. In the previous month, January 16, the shares were in the overbought region as the shares drops 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 on December and appreciated upward. The shares attracted more buyers while in the oversold region. The shares rose to the high of 7,655. The stock maintained its value 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 beneath 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. FTSE 100 (UKX) shares seem to be trading in the upper price range in the New Year. This will discourage new investors who are taking up the company shares.

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.