UK FTSE 100 (.FTSE) investors wait for another trade deal update

UK FTSE 100 (.FTSE) investors wait for another trade deal update

UK FTSE 100 (.FTSE) investors wait for another trade deal update

The FTSE 100 index closed higher after a fairly subdued session on Tuesday with US stocks happy to consolidate around recent record levels awaiting more news on trade talks.

At the close, the UK blue-chip index was up 18.39 points, or 0.3% at 7,388.08, about midway between the session high of 7,402.69 and the day’s low of 7,369.79.

On Wall Street, around London’s close, the Dow Jones Industrials Average was up 22 points, or 0.1% at 27,484, slipping back after opening at new all-time highs, while the broader S&P 500 index shed 0.1% after reaching another new peak on Monday.

Connor Campbell, financial analyst at Spreadex commented: “The markets didn’t have that much in them this Tuesday, trading predicated on the vestiges of Monday’s surge of trade optimism.”

He added: “Closing Monday at an all-time best, the Dow Jones decided to put up its feet on Tuesday. The US index could only muster a 0.1% increase, keeping it from hitting 27500. It may need to wait for another trade deal update if it is to make any further serious strides.”

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 7,554.76.

The projected lower bound is: 7,233.34.

The projected closing price is: 7,394.05.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 79.7787. This is not an overbought or oversold reading. The last signal was a sell 3 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 60.64. 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 63 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 131.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 buy 10 period(s) ago.

Rex Takasugi – TD Profile

FTSE 100 INDEX closed up 18.390 at 7,388.080. Volume was 8% below average (neutral) and Bollinger Bands were 19% narrower than normal.

Open     High      Low     Close     Volume___
7,369.6907,402.7907,369.6107,388.080 673,185,920
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 7,319.04 7,267.49 7,288.15
Volatility: 12 14 14
Volume: 682,126,592 760,185,792 725,308,928

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 1.4% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into .FTSE (mildly bullish). Our trend forecasting oscillators are currently bullish on .FTSE and have had this outlook for the last 5 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH