FTSE 100 (UKX) Up 0.35%; in an Uptrend Over Past 30 Days

The Hourly View for UKX

Last Updated April 27, 2021, 02:018 GMT

At the moment, FTSE 100’s price is down -8.5 (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as FTSE 100 has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on FTSE 100. Given that we see an uptrend 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

The back and forth price flow continues for FTSE 100, which started today off at 6963.12 US dollars, up 0.35% (24.56) from the day prior. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 6th since the day prior in terms of percentage price change. Here is a daily price chart of FTSE 100.

UKX

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. For additional context, note that price has gone up 9 out of the past 14 days.