The FTSE 100 is showing bullish momentum, supported by an ongoing uptrend. Recent price action suggests a breakout above a period of sideways consolidation, indicating strong buying interest.
Key Support: 8454 – This was the previous consolidation zone and now acts as a critical level.
If the index pulls back to 8454 and holds, it may resume the uptrend with potential upside targets at:
8650 (near-term resistance)
8730, then 8825 (longer-term targets)
Bearish Scenario: A daily close below 8454 would weaken the bullish case and could lead to a decline toward:
8373 (next support)
Then 8272 and possibly 8100 if selling pressure increases
Conclusion:
The FTSE 100 remains bullish above 8454. Watch for a bounce from this level to confirm further upside. A break below would shift the outlook to bearish in the short term.
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 Support: 8454 – This was the previous consolidation zone and now acts as a critical level.
If the index pulls back to 8454 and holds, it may resume the uptrend with potential upside targets at:
8650 (near-term resistance)
8730, then 8825 (longer-term targets)
Bearish Scenario: A daily close below 8454 would weaken the bullish case and could lead to a decline toward:
8373 (next support)
Then 8272 and possibly 8100 if selling pressure increases
Conclusion:
The FTSE 100 remains bullish above 8454. Watch for a bounce from this level to confirm further upside. A break below would shift the outlook to bearish in the short term.
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.