UKX Is in an Upward Correction as It Struggles below Level 7100

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


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

FTSE 100 (UKX) Long-term Trend: Ranging
FTSE 100 (UKX) price is in an upward correction as it struggles below level 7100. Since October 21, UKX has been trading between the moving average lines. On the plus side, if buyers keep the price above the 50-day line SMA, the index will rise and revisit the previous high of level 7500. On the downside, UKX has reversed from the downtrend after falling to the low of level 6707. The downtrend may resume if price breaks below the 21-day line SMA. Meanwhile, the index will be compelled to range-bound movement between the moving average lines for a few days.

UKX Is in an Upward Correction as It Struggles below Level 7100
UKX – Daily Chart

Daily Chart Indicators Reading:
For period 14, the UKX is at level 53 of the Relative Strength Index. It is in an upward correction as it breaks above the 21-day line SMA. The 21-day and 50-day SMA lines are sloping downward, indicating a downtrend. The index price bars are between the 21-day line SMA and the 50-day line SMA, indicating a range-bound move.

FTSE 100 (UKX) Medium-term Trend: bullish
On the 4-hour chart, UKX is in an uptrend. The crypto’s price is making a series of higher highs and higher lows.UKX  is retesting the resistance level at level 7086. On October 5, the index was repelled at level 7086. Today, buyers are struggling to break the same resistance level.

UKX Is in an Upward Correction as It Struggles below Level 7100
UKX – 4 Hour Chart

4-hour Chart Indicators Reading
UKX is trading above the daily stochastic’s 80% range. The stochastic band is rising, indicating a bullish trend. The SMAs for the 21-day and 50-day lines are sloping uptrend, indicating an uptrend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) is in an uptrend as it struggles below level 7100. UKX will resume upside momentum if price breaks above the 50-day line SMA. The range-bound move will continue if the bulls fail to breach the 50-day line SMA.


You can purchase crypto coins 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
  • 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
$100 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
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 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.