• Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
Digital Skill Institute
  • Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
      • Login

    FTSE 100

    • Home
    • Blog
    • FTSE 100
    • FTSE 100 Reaches Overbought Region but Unable to Break Level 7700

    FTSE 100 Reaches Overbought Region but Unable to Break Level 7700

    • Posted by DigitalLeonard
    • Categories FTSE 100, Technical Analysis, Trade Ideas, Trading Briefs, UKX
    • Date April 20, 2022
    • Comments 0 comment

    [ad_1]

    Resistance Level: 7500, 7600, 7700
    Support Level: 7300, 7200, 7100

    FTSE 100 (UKX) Long-term Trend: Bullish
    FTSE 100 (UKX) price is in an uptrend but unable to break Level 7700. Since January 2022, buyers have been struggling to break above level 7700 resistance . On each occasion, the index will fall below the moving averages. Meanwhile, on March 29 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that UKX will rise but reverse at level 1.272 Fibonacci extension or level 7817.20.

    FTSE 100 Reaches Overbought Region but Unable to Break Level 7700
    UKX – Daily Chart

    Daily Chart Indicators Reading:
    UKX is at level 59 of the Relative Strength Index for period 14.UKX is trading in the bullish trend zone and capable of a further upward move. The index price bars are above the moving average indicating a possible upward move. The 21-day line SMA and the 50-day line SMA are sloping upward indicating upward

    FTSE 100 (UKX) Medium-term Trend: Bullish
    On the 4-hour chart, UKX is in a smooth uptrend. The index is fluctuating below the level 7700 resistance zone. The uptrend has been stuck below the resistance level because of the presence of small body candlesticks called Doji. The candlesticks indicate that buyers and sellers are undecided about the direction of the market.

    FTSE 100 Reaches Overbought Region but Unable to Break Level 7700
    UKX – 4 Hour Chart

    4-hour Chart Indicators Reading
    UKX is above the 80% range of the daily stochastic. The index has reached the overbought region. Further upward move is unlikely as the market reaches the overbought region. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. The index price is above the moving averages.

    General Outlook for FTSE 100 (UKX)
    FTSE 100 (UKX) is trading in the overbought region of the market but unable to break Level 7700. The index will decline as buyers fail to break the resistance at level 7700. Nonetheless, the market will rise if the resistance is breached.

    You can purchase crypto coins here: Buy LBlock

    Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

    Share with other traders!

    [ad_2]

    Source link

    • Share:
    author avatar
    DigitalLeonard

    Previous post

    Argentina Records Rising Cryptocurrency Adoption Among Citizenry Amid Rising Inflation
    April 20, 2022

    Next post

    Dogecoin Is in a Sharp Fall, Faces Rejection from $0.15
    April 21, 2022

    You may also like

    EURCHF-1Day.png
    EURCHF Bears Successfully Led the Market Into the Demand Zone
    26 July, 2022
    DOTUSD_2022-07-22_09-45-20.png
    Polkadot Resumes Downward Correction as Buyers Fail To Keep Prices above $8 High
    23 July, 2022
    LTCUSDDaily-Chart.png
    Litecoin Risks Decline as It Struggles Below the $59 High
    20 July, 2022

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Search

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    ₦60,000.00 ₦25,000.00
    Step By Step Website Design Tutorial For Beginners

    Step By Step Website Design Tutorial For Beginners

    ₦10,000.00
    How To Create A Professional Website Without Coding

    How To Create A Professional Website Without Coding

    ₦150,000.00 ₦5,500.00
    Digital Marketing Institute Logo
    +2348165842119
    support@digitalleonard.com
    Facebook-f Twitter Google-plus-g Pinterest

    Company

    • About Us
    • Blog
    • Become An Instructor
    • Contact

    Links

    • Courses
    • Events
    • Gallery
    • FAQs

    Support

    • Join Our YouTube Channel
    • Telegram Forum
    • Facebook

    Recommend

    • BINANCE
    • BYBIT
    • HUOBI
    • KUCOIN
    • OKEX
    • BITGET

    Digital Skill Institute By DigitalLeonard.Com Powered by Digital Leonard.

    • Privacy
    • Terms
    • Sitemap
    • Contact

    Login with your site account

    Lost your password?