FTSE 100 (UKX) Down 0.07%, is Inching Close to 20 Day Average; Pin Bar Pattern Appearing on Chart

The Hourly View for UKX

Last Updated March 30, 2021, 23:18 GMT

At the time of this writing, FTSE 100’s price is down -13.49 (-0.2%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 6736.17 US dollars, down 0.07% (4.42) since the previous day. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 9th for the day in terms of price change relative to the previous day. The daily price chart of FTSE 100 below illustrates.

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 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days FTSE 100’s price has gone up 15 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.