FTSE 100 (UKX) Heads Down For the 3rd Consecutive Day, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average

The Hourly View for UKX

Last Updated February 19, 2021, 23:18 GMT

Currently, FTSE 100’s price is down -1.5 (-0.02%) from the hour prior. FTSE 100 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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

FTSE 100 came into today down 1.4% (93.75) from the open of the day prior, marking the 3rd consecutive day it has gone down. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 12th since the day prior in terms of percentage price change. The daily price chart of FTSE 100 below illustrates.


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 another vantage point, consider that FTSE 100’s price has gone down 19 of the previous 30 trading days.