FTSE 100 (UKX) Up 0.18%, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for UKX

Last Updated June 15, 2021, 02:018 GMT

At the time of this writing, FTSE 100’s price is up 12.49 (0.17%) from the hour prior. This is the 2nd 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. 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 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 previous day up 0.18% (12.62); this denotes the 3rd day in a row an upward move has occurred. 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 previous day. 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 90 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. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.