FTSE 100 (UKX) Moves Up For the 2nd Day In A Row

The Hourly View for UKX

Last Updated February 11, 2021, 00:018 GMT

At the moment, FTSE 100’s price is down -19.01 (-0.29%) 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 and 50 hour moving averages, resulting in them with price now being below them. 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 is up 0.12% (8.03) since the previous day, marking the 2nd day in a row an increase has occurred. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 5th for the day in terms of price change relative to the previous day. 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 90 day horizon; over that time period, price has been moving up. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 and 30 day timeframes. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For another vantage point, consider that FTSE 100’s price has gone down 17 of the previous 30 trading days.