FTSE 100 (UKX) Down 0.88%, Breaks Below 20 Day Average; in an Uptrend Over Past 90 Days

The Hourly View for UKX

Last Updated June 29, 2021, 01:013 GMT

At the moment, UKX’s price is down -7.5 (-0.11%) 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 UKX. 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

7072.97 was the closing price of the day for FTSE 100, resulting in today being one in which price moved down 0.88% ($63.1) from the previous day. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 12th for the day in terms of price change relative to the previous day. The daily price chart of FTSE 100 below illustrates.


FTSE 100 Technical Analysis

Notably, FTSE 100 crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that FTSE 100’s price has gone up 18 of the previous 30 trading days.