FTSE 100 (UKX) Underperforms All equity indices, Moves Down For the 2nd Day In A Row; Breaks Below 20 Day Average

The Hourly View for UKX

Last Updated January 1, 2021, 03:018 GMT

Currently, FTSE 100’s price is down -21.5 (-0.33%) from the hour prior. The hourly chart shows that FTSE 100 has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 closed the previous day down 1.45% (95.3); this denotes the 2nd day in a row a decline has happened. On a relative basis, FTSE 100 was the worst performer out of all 14 of the assets in the equity indices asset class today. Here is a daily price chart of FTSE 100.


FTSE 100 Technical Analysis

First things first: FTSE 100 crossed below its 20 day moving average yesterday. 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 down 8 out of the past 14 days.