UK FTSE 100 (.FTSE) optimism around the continuing trade talks between China and the U.S. helped
London markets were up on Wednesday, as optimism around the continuing trade talks between China and the U.S. helped lift stocks.
The FTSE 100 has gained 2.6% so far this year, easing investor worries that the falls seen in late 2018 could give way to a sustained period of market weakness..
British housebuilders climbed, while J Sainsbury PLC’s SBRY, +2.29% was the latest big U.K retailer to release its all-important Christmas sales figures. ADP, -4.57%
How are the markets performing?
The U.K.’s FTSE 100 UKX, +0.66% climbed by 0.9% to 6,929.03, after finishing up 0.7% on Tuesday. The British pound GBPUSD, +0.5505% rose to $1.2745 from $1.2716.
What is driving markets?
U.K Prime Minister Theresa May has warned politicians that it is delusional to believe a new European Union exit deal can be negotiated with Brussels if her proposed divorce strategy is voted down next week, Reuters reports.
Growing optimism around extended U.S./China trade talks has helped ease European investors’ fears about a slowdown in the German economy. President Donald Trump tweeted on Tuesday that the discussions with Beijing were “going very well.”
Overall, the bias in prices is: Downwards.
The projected upper bound is: 7,110.97.
The projected lower bound is: 6,700.97.
The projected closing price is: 6,905.97.
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 22 white candles and 28 black candles for a net of 6 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 83.7573. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 55.48. 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 49 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 181.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 7 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 buy 5 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 45.030 at 6,906.630. Volume was 10% above average (neutral) and Bollinger Bands were 24% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 6,757.62 6,919.17 7,341.65
Volatility: 22 19 16
Volume: 586,031,360 819,226,688 815,397,568
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 5.9% 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 0 periods.