FTSE 100 (UKX) Underperforms All equity indices, Moves Down For the 2nd Straight Day; But Still in an Uptrend Over Past 14 Days

The Hourly View for UKX

Last Updated January 13, 2021, 02:018 GMT

At the moment, FTSE 100’s price is up 12.99 (0.19%) from the hour prior. This is the 3rd straight hour FTSE 100 has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on FTSE 100. Given that we see downtrend on the 20 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 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 is down 0.65% (44.37) since yesterday, marking the 2nd straight day a decrease has occurred. On a relative basis, FTSE 100 was the worst performer out of all 14 of the assets in the equity indices asset class today. Let’s take a look at the daily price chart of FTSE 100.

UKX

FTSE 100 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days FTSE 100’s price has gone up 9 them.