FTSE 100 (UKX) Down 0%; Pin Bar Pattern Appearing on Chart

The Hourly View for UKX

Last Updated April 26, 2021, 02:018 GMT

At the time of this writing, FTSE 100’s price is down -14.99 (-0.22%) 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 50 hour timeframe. Of note is that the 50 hour changed directions on UKX; it is now pointing down. 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 choppiness in the recent daily price action of FTSE 100 continues; to start today, it came in at a price of 6938.56 US dollars, down 0% (0.32) since yesterday. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 8th for the day in terms of price change relative to yesterday. Here is a daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.