UK FTSE 100 (.FTSE) higher and US shares headed north too as tensions eased over US/ China trade
FTSE 100 closed the day higher and US shares headed north too as tensions eased over US/ China trade.
Britain’s blue-chip index clocked off 24.18 points higher at 7,250.90. The mid-cap index FTSE 250 also rose – up 95.18 to 19,008.18.
It emerged that the new tariffs on Chinese imports, which had been set to be imposed at the beginning of September will be delayed or in some cases scrapped.
“Stocks have been subdued recently, and US-China trade tensions have been a major factor, and now the mood has lightened, and that has acted as a green light to the bulls. Electronics, footwear and clothing are some of the goods that will not be levied with tariffs next month, and Apple is one of the biggest gainers on the back of the news,” noted analyst at London-based CMC Markets David Madden.
Apple (NASDAQ: AAPL) shares surged 4% to US$208.54 in New York.
In London, the big diggers were wanted in the wake of the improved sentiment surrounding trade.
Anglo American (LON:AAL) was the top gainer on Footsie, jumping up 2.58% to 1,864p.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 7,371.03.
The projected upper bound is: 7,418.06.
The projected lower bound is: 7,085.20.
The projected closing price is: 7,251.63.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 48.4807. This is not an overbought or oversold reading. The last signal was a buy 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 38.63. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 4 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -69. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 7 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 24.180 at 7,250.900. Volume was 2% below average (neutral) and Bollinger Bands were 103% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 7,319.03 7,440.47 7,191.00
Volatility: 21 14 15
Volume: 874,126,080 704,035,328 738,312,192
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FTSE 100 INDEX is currently 0.8% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .FTSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTSE and have had this outlook for the last 7 periods.
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