The Hourly View for UKX
Last Updated April 1, 2021, 00:018 GMT
Currently, FTSE 100’s price is down -10.5 (-0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on FTSE 100. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
FTSE 100 Daily Price Recap
The back and forth price flow continues for FTSE 100, which started today off at 6772.12 US dollars, up 0.53% (35.95) from the previous day. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 9th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of FTSE 100.
FTSE 100 Technical Analysis
Volatility for FTSE 100 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days FTSE 100’s price has gone up 8 them.