The Hourly View for UKX
Last Updated January 7, 2021, 03:018 GMT
Currently, FTSE 100’s price is down -2 (-0.03%) from the hour prior. This is the 2nd hour in a row FTSE 100 has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend 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 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 closed the day prior up 3.47% (229.61); this denotes the 3rd consecutive day an upward move has occurred. Out of the 14 instruments in the equity indices asset class, FTSE 100 ended up ranking 2nd for the day in terms of price change relative to the day prior. Here is a daily price chart of FTSE 100.
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 another vantage point, consider that FTSE 100’s price has gone up 8 of the previous 14 trading days.