FTSE 100 (UKX) Makes Big Move Relative to Two Week Trend, Down 0.57%; Crosses 20 Day Moving Average

The Hourly View for UKX

Last Updated March 26, 2021, 01:018 GMT

At the time of this writing, FTSE 100’s price is down -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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on UKX; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

FTSE 100 Daily Price Recap

FTSE 100 entered today at 6674.83, down 0.57% ($38.06) from yesterday. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 13th for the day in terms of price change relative to yesterday. Here is a daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

Notably, FTSE 100 crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days FTSE 100’s price has gone up 8 them.