FTSE 100 (UKX) Up 0.1%, in an Uptrend Over Past 90 Days; Eyes 50 Day Average

The Hourly View for UKX

Last Updated February 23, 2021, 00:018 GMT

At the time of this writing, FTSE 100’s price is down -27.49 (-0.42%) from the hour prior. The hourly chart shows that FTSE 100 has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 200 hour moving averages, resulting in them with price now being below them. 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 end of a 3 day negative run has come for FTSE 100, which finished the day prior up 0.1% (6.87). Relative to other instruments in the equity indices asset class, FTSE 100 ranked 7th since the day prior in terms of percentage price change. The daily price chart of FTSE 100 below illustrates.

UKX

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 additional context, note that price has gone down 19 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.