UKX’s Price May Be in An Uptrend, but RSI Suggests Caution

News Releases Impacting FTSE 100

  • Forecasted S&P Global/CIPS UK Services PMI Final in United Kingdom: 61. The previous number: 60.5. (0.83% difference between the two.)

The Daily View for FTSE 100

  • At the moment, UKX’s price is up 21.02 (0.28%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as FTSE 100 has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • The moving averages on the daily 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.
  • Divergence alert: Trend in UKX’s price and its RSI are diverging. UKX’s price is rising slower than its RSI.

Below is a daily price chart of FTSE 100.

UKX

Featured FTSE 100 Idea From TradingView

Below is a trading comment entitled GBP/USD:FUNDAMENTALS+TECHNICAL ANALYSIS | SHORT SCENARIO | 🔔 you may find interesting:

GBP/USD has started to edge lower in the early European session.The pair could face renewed bearish pressure if 1.3100 support fails.Risk perception is likely to be the primary market driver on Monday.The British pound has started the new week in a calm manner but has started to inch lower toward 1.3100 in the early European session. The technical outlook points to a bearish tilt in the short term and sellers could take action in case 1.3100 support fails.The cautious market mood early Monday is making it tough for the British pound to gather strength. The UK’s FTSE 100 Index is trading flat and the US stock index futures are posting small losses.The west is reportedly looking to ramp up sanctions against Russia on accusations of Russia having committed war crimes during the military offensive…

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