FTSE 100 (UKX) Makes Big Move Relative to Two Week Trend, Up 1.28%; Price Base in Formation Over Past 14 Days

The Hourly View for UKX

Last Updated April 7, 2021, 03:018 GMT

Currently, FTSE 100’s price is up 16.49 (0.24%) 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. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 1.28% (86.25) since the day prior, marking the 2nd straight day an increase has occurred. Relative to other instruments in the equity indices asset class, FTSE 100 ranked 2nd since the day prior in terms of percentage price change. 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 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days FTSE 100’s price has gone up 8 them.