FTSE 100 (UKX) Up 0.26%; Pin Bar Pattern Appearing on Chart

The Hourly View for UKX

Last Updated March 25, 2021, 00:018 GMT

At the time of this writing, FTSE 100’s price is up 7.99 (0.12%) from the hour prior. FTSE 100 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. 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 entered today at 6726.1, up 0.26% ($17.39) from the day prior. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 6th for the day in terms of price change relative to the day prior. 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 30 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 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.