FTSE 100 (UKX) Makes Big Move Relative to Two Week Trend; Heads Up For the 2nd Straight Day

The Hourly View for UKX

Last Updated June 2, 2021, 03:018 GMT

At the moment, FTSE 100’s price is down -15.99 (-0.23%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 closed the previous day up 0.82% (57.85); this denotes the 2nd straight day an upward move has occurred. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 4th since the previous day in terms of percentage price change. Let’s take a look at the 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. Or to view things another way, note that out of the past 30 days FTSE 100’s price has gone up 15 them.