UK FTSE All Share (.FTAS) Expected to Open a Little Unchanged
The FTSE 100 index UKX, +0.10% rose 0.1% to close at 7,683.97, marking a third straight session in positive territory.
Sterling GBPUSD, +0.0307% slumped to an intraday low of $1.2958, hitting its lowest dollar level since early September last year. A weaker pound can boost the FTSE 100, as many of the index’s multinational companies generate most of their sales in other currencies.
The retail figures for the whole quarter were good though, with growth of 2.1 per cent.
The FTSE 100 has just about clung on to its gains for the day, as the ongoing weakening in the pound has raised the attractiveness of UK listed firms over their mainland European, and US counterparts.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 4,315.89.
The projected lower bound is: 4,136.99.
The projected closing price is: 4,226.44.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 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 66.8100. This is not an overbought or oversold reading. The last signal was a sell 6 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 54.07. 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 sell 40 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 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 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 8 period(s) ago.
Rex Takasugi – TD Profile
FTSE-A ALL SHARE closed up 0.540 at 4,226.130. Volume was 17% below average (neutral) and Bollinger Bands were 47% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 4,207.42 4,223.50 4,109.81
Volatility: 12 14 13
Volume: 110,533,816 136,409,344 130,342,264
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-A ALL SHARE is currently 2.8% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .FTAS (mildly bullish). Our trend forecasting oscillators are currently bullish on .FTAS and have had this outlook for the last 2 periods.