The Hourly View for UKX
Last Updated June 9, 2021, 19:19 GMT
Currently, FTSE 100’s price is up 5.99 (0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning above them. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
FTSE 100 Daily Price Recap
FTSE 100 closed the day prior up 0.25% (17.87); this denotes the 3rd day in a row an increase has occurred. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 2nd since the day prior in terms of percentage price change. Below is a daily price chart of FTSE 100.
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. For additional context, note that price has gone up 17 out of the past 30 days.