The FTSE ADX General Index is at a technically sensitive level, hovering near the R1 (Classic) resistance of 10,148 and marginally above key moving averages (VWMA 20 at 10,056.94 and HMA 9 at 10,266.15). This suggests **bullish momentum is building**, supported by a “**Strong Buy**” signal on technical indicators.
The index recently completed a breakout from a **multi-year symmetrical triangle**, and is now flirting with **major resistance (\~10,300–10,340)**, which coincides with the **R2 level (Classic & Woodie)**.
💡 Why This Matters:
* A decisive move above 10,340 (R2) could trigger a **fresh bullish leg** toward **R3 at 10,909**, confirming the breakout.
* Support sits at 9,768 (Pivot) and **9,577 (S1)**—if price pulls back, these zones should be closely monitored for potential entries.
🧭 Conclusion: The ADX Index is sending bullish signals both structurally and through indicator convergence. However, a confirmed close above 10,340 with rising volume would validate the breakout and could signal the start of a sustained rally.
The index recently completed a breakout from a **multi-year symmetrical triangle**, and is now flirting with **major resistance (\~10,300–10,340)**, which coincides with the **R2 level (Classic & Woodie)**.
💡 Why This Matters:
* A decisive move above 10,340 (R2) could trigger a **fresh bullish leg** toward **R3 at 10,909**, confirming the breakout.
* Support sits at 9,768 (Pivot) and **9,577 (S1)**—if price pulls back, these zones should be closely monitored for potential entries.
🧭 Conclusion: The ADX Index is sending bullish signals both structurally and through indicator convergence. However, a confirmed close above 10,340 with rising volume would validate the breakout and could signal the start of a sustained rally.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.