UK FTSE 100 (.FTSE) Investors remain cautious
The FTSE 100 closed up 72.50 points at 7189.65 and the pound was at $1.21 against the dollar.
Investors remain cautious as they continue to juggle a lethal cocktail of US-China trade wars, tensions in Hong Kong, a slowing global economy, uncertainty in Italy and Brexit.
Meanwhile, the housing market appears to have picked up a touch following a 1 per cent drop in house prices in the past month.
An analyst at Rightmove says: ‘There seems to be a bit of a summer buying spree. Buyers have cottoned on to the fact that it can be a good time of year to buy, with less competition from other buyers.’
The biggest risers on the FTSE 100 were Ocado, up 53p at 1,204p, Tui, up 30.6p at 777.4p, Glencore, up 8.55p at 232.95p, and DS Smith, up 11p at 324.8p.
The biggest fallers were Fresnillo, down 11.2p at 652p, Prudential, down 16.5p at 1,399p, Sage, down 3.4p at 695.6p, and Vodafone, down 0.52p at 150.32p.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 7,343.73.
The projected upper bound is: 7,360.57.
The projected lower bound is: 7,011.29.
The projected closing price is: 7,185.93.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 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 37.6562. This is not an overbought or oversold reading. The last signal was a buy 6 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 40.41. 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 8 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 -57. This is not a topping or bottoming area. The last signal was a buy 1 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 11 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 72.500 at 7,189.650. Volume was 14% below average (neutral) and Bollinger Bands were 132% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 7,190.94 7,427.15 7,192.08
Volatility: 16 15 15
Volume: 730,930,176 712,090,816 734,936,960
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 0.0% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 11 periods.