FTSE 100 (UKX) Outperforms All equity indices, 2 Day Down Streak Snapped; Breaks Above 20 Day Average

The Hourly View for UKX

Last Updated May 14, 2021, 00:018 GMT

At the moment, FTSE 100’s price is up 2 (0.03%) from the hour prior. FTSE 100 has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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

The back and forth price flow continues for FTSE 100, which started today off at 7004.63 US dollars, up 0.82% (56.64) from the day prior. FTSE 100 outperformed all 14 assets in the equity indices asset class since the day prior. Congrats to its holders! The daily price chart of FTSE 100 below illustrates.


FTSE 100 Technical Analysis

Notably, FTSE 100 crossed above its 20 day moving average yesterday. 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 18 out of the past 30 days.