FTSE 100 (UKX) Down $22.43 On 4 Hour Chart, Price Base in Formation Over Past 90 Days; Nears 20 Day Moving Average

FTSE 100 4 Hour Price Update

Updated September 10, 2020 11:13 AM GMT (07:13 AM EST)

FTSE 100 closed the previous 4 hours down 0.37% (22.43); this denotes the 2nd straight candle a decrease has occurred. Out of the 8 instruments in the 8 major global equity indices asset class, FTSE 100 ended up ranking 7th for the four-hour candle in terms of price change relative to the previous 4 hours.

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 6012.84 US dollars, up 1.39% (82.54) since the previous day. Relative to other instruments in the 8 major global equity indices asset class, FTSE 100 ranked 5th since the previous day in terms of percentage price change. Here is a daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that FTSE 100’s price has gone down 6 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about FTSE 100:

  • From drsparwaga:

    @DilipShah_ @efjaebe @julianHjessop FTSE 100 has many vulnerable comps in its composition (oil, homebuilders, banks, and other vulnerable sectors) which is why it’s lagged behind the US indices. I agree in the next crash it will go sub 5k again i.e. March lows and likely lower. Im wondering if a weak £ will offset.

  • From truemagic68:

    Wall Street continued its decline y’day, with tech in the vanguard, based on valuation concerns – NASDAQ down 10% since Wed . Asian stock offered no solace this am- Suggested European opening calls– FTSE 100 -17 @ 5904, DAX -32 @ 12946, CAC40 -14 @ 4959, DJIA +13 @ 27520 @ 5.02am

  • From MotilalOswalLtd:

    European stocks dropped after President Donald Trump stoked tensions with China and virus cases across Germany and the U.K. continued to rise. Technology shares led losses in the Europe Stoxx 600 Index, while the FTSE 100 Index was buoyed by the weaker pound. #MOMarketUpdates