UK FTSE 100 (.FTSE) Investors focus on Brexit

UK FTSE 100 (.FTSE) Investors focus on Brexit

UK FTSE 100 (.FTSE) Investors focus on Brexit

While the Dow Jones and DAX 30 look to economic data, the UK equity index will likely keep its eye on the political landscape. With Boris Johnson enjoying a comfortable lead, it looks as though the Prime Minister will retain control after the December 12 general election. Although many believe the general election will break the longstanding parliamentary deadlock, time until the new January 31, 2020 Brexit deadline is quickly expiring.

Technical Indictors

Overall, the bias in prices is: Sideways.

The projected upper bound is: 7,485.88.

The projected lower bound is: 7,166.11.

The projected closing price is: 7,326.00.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 35.7014. This is not an overbought or oversold reading. The last signal was a sell 10 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 52.58. 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 76 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 -47. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.

Rex Takasugi – TD Profile

FTSE 100 INDEX closed up 88.260 at 7,326.810. Volume was 19% below average (neutral) and Bollinger Bands were 49% narrower than normal.

Open     High      Low     Close     Volume___
7,238.5507,343.2607,238.4707,326.810 611,239,296
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 7,310.02 7,283.24 7,311.80
Volatility: 11 14 13
Volume: 710,425,856 745,802,880 725,443,712

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.

Summary

FTSE 100 INDEX is currently 0.2% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of .FTSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .FTSE and have had this outlook for the last 18 periods.

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