The FTSE 100 continues to exhibit bearish sentiment, in line with the prevailing downtrend. Recent price action confirms a breakdown below the previous consolidation zone, reinforcing downside pressure.
Key Level: 8460
This level marks the former intraday consolidation area and now acts as critical resistance. A near-term oversold bounce toward this level is possible.
Bearish Scenario:
A rejection from 8460 would confirm resistance and likely resume the downtrend. Downside targets include 8200 as the first support, followed by 8090 and 8000 over the medium to long term.
Bullish Alternative:
A confirmed breakout and daily close above 8460 would shift the outlook to neutral-to-bullish. In that case, upside targets include 8550 and 8600.
Conclusion:
The technical bias remains bearish below 8460. Price action around this level will be key in determining the next directional move. A failure to reclaim 8460 keeps the downside in focus, while a breakout above it would challenge the bearish view.
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.
Key Level: 8460
This level marks the former intraday consolidation area and now acts as critical resistance. A near-term oversold bounce toward this level is possible.
Bearish Scenario:
A rejection from 8460 would confirm resistance and likely resume the downtrend. Downside targets include 8200 as the first support, followed by 8090 and 8000 over the medium to long term.
Bullish Alternative:
A confirmed breakout and daily close above 8460 would shift the outlook to neutral-to-bullish. In that case, upside targets include 8550 and 8600.
Conclusion:
The technical bias remains bearish below 8460. Price action around this level will be key in determining the next directional move. A failure to reclaim 8460 keeps the downside in focus, while a breakout above it would challenge the bearish view.
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.