UKX Rebounds as It Approaches Level 7578

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: Bullish
FTSE 100 (UKX) price is in an uptrend as it approaches level 7578. As it climbs to the prior highs, the index price breaks above the moving average lines. UKX has been trading between the moving average lines since October 21. The index is likely to return to the prior high of level 7500 because buyers have sustained the price above the 50-day SMA. In the negative, UKX has broken out of its downward trend after hitting a low of level 6707. If the price drops below the 21-day line SMA, the downtrend may resume. In the meantime, the index is climbing and approaching level 7578, the previous high.

UKX Rebounds as It Approaches Level 7578
UKX – Daily Chart

Daily Chart Indicators Reading:
The UKX is at level 69 on the Relative Strength Index for period 14. This suggests that the overbought area has been reached by the market. An uptrend is evident from the upward-sloping 21-day and 50-day SMA lines. The index price bars are above the SMAs for the 21-day and 50-day lines, suggesting a potential increase.

FTSE 100 (UKX) Medium-term Trend: bullish
The price of UKX has broken above the moving average lines on the 4-hour chart, indicating an uptrend. A retraced candle body on November 1 uptrend also tested the 61.8% Fibonacci retracement line. The retracement indicates that UKX will increase to level 1.618 of the Fibonacci extension, which is level 7425.09.

UKX Rebounds as It Approaches Level 7578
UKX – 4 Hour Chart

4-hour Chart Indicators Reading
UKX is trading above the 80% range of the daily stochastic. A bullish trend is being shown by the increasing stochastic band. The 21-day and 50-day lines’ SMAs are sloping upward, which indicates an uptrend.

General Outlook for FTSE 100 (UKX)

The FTSE 100 (UKX) is on an ascending trend as  it approaches level 7578. The bulls broke through the SMA’s 50-day barrier, resuming the upward pace. The present trend is getting close to the earlier peak of level 7578.

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
  • 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.