FTSE 100 (UKX) Up 0.07%, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average

The Hourly View for UKX

Last Updated June 7, 2021, 02:018 GMT

At the moment, FTSE 100’s price is down -7.5 (-0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 10 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

FTSE 100 entered today at 7069.04, up 0.07% ($4.69) from 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. Let’s take a look at the daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

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 7 of the previous 14 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!