FTSE 100 (UKX) Moves Up For the 3rd Day In A Row, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

FTSE 100 Daily Price Recap

FTSE 100 is up 0.45% ($25.87) since yesterday, marking the 3rd day in a row it has gone up. Relative to other instruments in the 8 major global equity indices asset class, FTSE 100 ranked 3rd since yesterday in terms of percentage price change. Here is a daily price chart of FTSE 100.

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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 16 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Over on Twitter, here were the top tweets about FTSE 100:

  • From DrHoenderkamp:

    @YourSpace_Beth @victoriabeckham @SpursOfficial @RishiSunak @Conservatives looking after all their mates in the FTSE 100 companies and we see the greed and self serving nature of all of the above and more. Whilst small businesses like me, my BIL, my best friend and more have no income, fall through massive gaps in gvt support.

  • From DmMatthewsd7:

    @katiehind @RishiSunak Vast numbers of the ftse 100+250 made notable profits year after year. They are still furloughing! No claim against them! They and their staff also paid notable taxes. The proposal did not come with caveat on how much money a company made. This appears an attack on the beckhams!

  • From laurencechandy:

    @OilSheppard @crampell When I started learning econ in the 90s, I was encouraged to keep a daily diary of Brent oil, the FTSE 100, and £ vs DM. This price makes me nostalgic.