UK FTSE 100 (.FTSE) miners and financial firms were boosted by reports that China and the United States were nearing a trade deal
Britain’s blue-chip index rose on Monday as miners and financial firms were boosted by reports that China and the United States were nearing a trade deal, while Ted Baker tumbled on founder Ray Kelvin’s exit and a court ruling hit British American Tobacco.
The FTSE 100 nudged 0.3 percent higher by 0830 GMT while the UK-focused midcaps were up 0.2 percent.
Miners and financial stocks advanced on reports that Washington and Beijing were close to a trade deal to end a prolonged dispute that has hurt global economic growth.
That also helped industrial groups Ashtead and Melrose top the FTSE 100 leader-board.
But British American Tobacco skidded 2 percent after a Canadian court upheld most of a 2015 decision that awarded around C$15 billion (£8.5 billion) to smokers in Quebec.
Ted Baker slid 5 percent to join the top midcap losers after the fashion retailer’s founder and chief executive officer Ray Kelvin quit following allegations of misconduct relating to his habit of hugging business colleagues.
“Ted Baker has grown steadily and has become a global brand and we do not see any change to the Group’s long term prospects,” wrote Liberum analysts, calling his departure unfortunate yet understandable.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 7,342.79.
The projected lower bound is: 6,992.03.
The projected closing price is: 7,167.41.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 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 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 63.1893. This is not an overbought or oversold reading. The last signal was a sell 11 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 56.39. 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 88 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 -27. 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 7 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 24.090 at 7,158.480. Volume was 69% below average (consolidating) and Bollinger Bands were 49% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 7,149.10 6,975.10 7,268.87
Volatility: 10 16 16
Volume: 745,111,488 678,363,648 788,041,792
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 1.5% below 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 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 39 periods.
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