Trend Overview:
The FTSE 100 remains in a prevailing uptrend, with recent price action reflecting a corrective pullback towards a previous consolidation zone, now acting as a support level.
Key Levels:
Support: 8550 (key level), 8490, 8430
Resistance: 8614, 8655, 8700
Bullish Scenario:
A pullback to 8550, followed by a strong bullish reversal, could confirm the support level and signal further upside momentum. A breakout above 8614 may open the way toward 8655 and 8700 in the longer term.
Bearish Scenario:
A daily close below 8550 would weaken the bullish outlook, increasing the likelihood of a retracement towards 8490, with 8430 as the next downside target.
Conclusion:
The FTSE 100 remains bullish above 8550, with potential upside targets at 8614, 8655, and 8700. However, a break below 8550 could shift momentum to the downside, targeting 8490 and 8430. Traders should watch price action near 8550 for confirmation of the next directional move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The FTSE 100 remains in a prevailing uptrend, with recent price action reflecting a corrective pullback towards a previous consolidation zone, now acting as a support level.
Key Levels:
Support: 8550 (key level), 8490, 8430
Resistance: 8614, 8655, 8700
Bullish Scenario:
A pullback to 8550, followed by a strong bullish reversal, could confirm the support level and signal further upside momentum. A breakout above 8614 may open the way toward 8655 and 8700 in the longer term.
Bearish Scenario:
A daily close below 8550 would weaken the bullish outlook, increasing the likelihood of a retracement towards 8490, with 8430 as the next downside target.
Conclusion:
The FTSE 100 remains bullish above 8550, with potential upside targets at 8614, 8655, and 8700. However, a break below 8550 could shift momentum to the downside, targeting 8490 and 8430. Traders should watch price action near 8550 for confirmation of the next directional move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.