The FTSE 100 Index remains in a bearish structure, with recent price action confirming a break below the prior consolidation zone, indicating potential for further downside.
Key Resistance: 7770 – former support turned resistance, aligning with the intraday consolidation area.
Support Levels:
7522 – near-term target if bearish momentum continues
7463 and 7400 – medium to long-term downside objectives
An oversold bounce may occur, but unless price breaks and closes above 7770 on the daily chart, the bearish outlook remains intact.
Conversely, a confirmed breakout above 7770 would invalidate the bearish bias and open the path to test 7900, with 7940 as a secondary resistance.
Conclusion
The FTSE bias is bearish below 7770. Watch for a rejection at that level to confirm downside continuation. A daily close above 7770 would shift the outlook to bullish, targeting 7900+.
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 Resistance: 7770 – former support turned resistance, aligning with the intraday consolidation area.
Support Levels:
7522 – near-term target if bearish momentum continues
7463 and 7400 – medium to long-term downside objectives
An oversold bounce may occur, but unless price breaks and closes above 7770 on the daily chart, the bearish outlook remains intact.
Conversely, a confirmed breakout above 7770 would invalidate the bearish bias and open the path to test 7900, with 7940 as a secondary resistance.
Conclusion
The FTSE bias is bearish below 7770. Watch for a rejection at that level to confirm downside continuation. A daily close above 7770 would shift the outlook to bullish, targeting 7900+.
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.