UK FTSE 100 (.FTSE) surrendered early gains with Asia-focused shares particularly badly hit by worries over protests in Hong Kong
London’s FTSE 100 surrendered early gains on Monday, with Asia-focused shares particularly badly hit by worries over protests in Hong Kong, while tour company Thomas Cook plunged after updating on its recapitalisation plans.
The FTSE 100 index .FTSE ended 0.4% lower, while the midcap index .FTMC dropped 0.9% as concerns about the health of the British economy, the world’s fifth-largest, lingered after data on Friday showed a surprise downturn in the last quarter.
The main index, which was also hurt by U.S. President Donald Trump’s comments last Friday that he was not ready to make a trade deal with China, is on course for its second monthly fall this year. It recorded its first monthly fall in May, when tensions between the world’s two biggest economies flared up.
China reacted to another $300 billion tariff threat by letting its currency fall below a key 7-per-dollar level for the first time in more than a decade earlier this month.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 7,376.32.
The projected upper bound is: 7,394.14.
The projected lower bound is: 7,060.98.
The projected closing price is: 7,227.56.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 25 white candles and 25 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 36.4510. This is not an overbought or oversold reading. The last signal was a buy 1 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 36.49. 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 3 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 -74. 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 6 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed down -27.130 at 7,226.720. Volume was 18% below average (neutral) and Bollinger Bands were 101% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 7,358.62 7,439.74 7,189.44
Volatility: 20 14 15
Volume: 889,061,248 707,171,264 738,835,456
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 0.5% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 6 periods.
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