UK FTSE 100 (.FTSE) Technical Indicators Remain Neutral

UK FTSE 100 (.FTSE) Technical Indicators Remain Neutral

$FTSE #UKFTSE100 #FTSE100 #UK #Index #Trading #Markets

UK FTSE 100
Ticker: .FTSE
Price: 6104.73

UK FTSE News

FTSE 100 index raced Monday to a positive close, joining global indices in heading higher.

Britain’s index of leading shares closed up over 102 points, or 1.71% at 6,104.

Midcap FTSE 250 also went higher, adding over 107 points to close at 17,685.

“The optimism is being driven by a report that President Trump is looking to fast-track the approval of a drug that has the potential to be a vaccine for Covid-19,” noted analyst David Madden, at CMC Markets.

“AstraZeneca and Oxford University are working on the drug in question, and Mr Trump is apparently keen to get the regulatory approval sped up. The move could come in October, one month ahead of the US presidential election.”

Price Performance

Technical Indicators

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 6,142.01.

The projected upper bound is: 6,342.01.

The projected lower bound is: 5,869.05.

The projected closing price is: 6,105.53.

Candlesticks

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 28 white candles and 22 black candles for a net of 6 white candles.

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 35.2393. 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 49.85. 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 105 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 -26. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 2 period(s) ago.

Rex Takasugi – TD Profile

FTSE 100 INDEX closed up 102.840 at 6,104.730. Volume was 49% below average (neutral) and Bollinger Bands were 32% narrower than normal.

Open       High       Low        Close      Volume
6,001.890  6,119.800  6,001.890  6,104.730  452,719,200
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period    50-period     200-period
Close:           6,114.61     6,153.63      6,544.04
Volatility:      26           24            37
Volume:          539,903,936  706,417,152   925,750,848

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 6.7% below its 200-period moving average and is in an downward trend. Volatility is 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 2 periods.

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