FTSE 100 (UKX) 3 Day Down Streak Snapped; in an Uptrend Over Past 14 Days

The Hourly View for UKX

Last Updated January 15, 2021, 03:018 GMT

At the time of this writing, FTSE 100’s price is down -18.99 (-0.28%) 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 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. 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 0.84% (56.44). Relative to other instruments in the equity indices asset class, FTSE 100 ranked 4th since the day prior in terms of percentage price change. 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 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that FTSE 100’s price has gone up 9 of the previous 14 trading days.