FTSE 100 (UKX) Up 0.04%, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average

The Hourly View for UKX

Last Updated June 1, 2021, 02:018 GMT

At the time of this writing, FTSE 100’s price is down -1 (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as FTSE 100 has now gone down 4 of the past 5 hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Price action traders may also wish to note that we see a pin bar candlestick pattern on FTSE 100. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

FTSE 100 Daily Price Recap

FTSE 100’s 3 day negative streak has officially concluded, as the candle from yesterday closed up 0.04% (2.94). Relative to other instruments in the equity indices asset class, FTSE 100 ranked 3rd since yesterday in terms of percentage price change. Below is a daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!