FTSE 100 (UKX) Heads Up For the 4th Straight Day

The Hourly View for UKX

Last Updated June 16, 2021, 02:018 GMT

Currently, FTSE 100’s price is up 1 (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as FTSE 100 has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on FTSE 100. Given that we see an uptrend on the 20 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 0.36% (25.8) since the previous day, marking the 4th straight day it has gone up. 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. Below 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. For additional context, note that price has gone up 8 out of the past 10 days.