The FTSE 100 (UK100) index continues to trade within a prevailing long-term uptrend, indicating a bullish bias. However, near-term price action suggests potential volatility around key levels, requiring confirmation of directional momentum.
Bullish Scenario:
The key level to watch is 8708, which represents the bull flag breakout level.
A successful retest and rebound from 8708 could reinforce the bullish outlook, targeting 8910 as the first upside resistance.
Sustained momentum above 8910 could extend gains toward 8950, with 8990 acting as a longer-term resistance level.
Bearish Scenario:
A confirmed breakdown below 8708 on a daily close could signal weakness, leading to a deeper retracement.
In this scenario, the next support levels to watch are 8680, followed by 8630, where buyers may attempt to regain control.
Further downside pressure below 8630 could weaken the broader uptrend structure, increasing the risk of extended corrective moves.
Conclusion:
The FTSE 100 remains within a bullish trend, but short-term movements depend on price action around 8708. A successful retest and rebound would reaffirm the uptrend, while a confirmed breakdown could introduce further corrective downside risks. Traders should monitor price reactions at these key levels to assess momentum shifts.
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.
Bullish Scenario:
The key level to watch is 8708, which represents the bull flag breakout level.
A successful retest and rebound from 8708 could reinforce the bullish outlook, targeting 8910 as the first upside resistance.
Sustained momentum above 8910 could extend gains toward 8950, with 8990 acting as a longer-term resistance level.
Bearish Scenario:
A confirmed breakdown below 8708 on a daily close could signal weakness, leading to a deeper retracement.
In this scenario, the next support levels to watch are 8680, followed by 8630, where buyers may attempt to regain control.
Further downside pressure below 8630 could weaken the broader uptrend structure, increasing the risk of extended corrective moves.
Conclusion:
The FTSE 100 remains within a bullish trend, but short-term movements depend on price action around 8708. A successful retest and rebound would reaffirm the uptrend, while a confirmed breakdown could introduce further corrective downside risks. Traders should monitor price reactions at these key levels to assess momentum shifts.
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.