The Hourly View for UKX
Last Updated February 19, 2021, 00:018 GMT
At the moment, FTSE 100’s price is down -2.5 (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 20 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 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
FTSE 100 closed the previous day down 0.56% (37.96); this denotes the 2nd consecutive day a decline has happened. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 9th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of FTSE 100.
FTSE 100 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.