FTSE 100 (UKX) Up 0.21%, is Inching Close to 50 Day Average; Pin Bar Pattern Appearing on Chart

The Hourly View for UKX

Last Updated February 25, 2021, 00:018 GMT

Currently, FTSE 100’s price is down -4 (-0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as FTSE 100 has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 choppiness in the recent daily price action of FTSE 100 continues; to start today, it came in at a price of 6625.94 US dollars, up 0.21% (13.7) since the previous day. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 8th for the day in terms of price change relative to the previous day. 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. Or to view things another way, note that out of the past 14 days FTSE 100’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.