Trend Overview:
The FTSE100 equity index remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 8800 (primary pivot), followed by 8760 and 8700
Resistance: 8940 (initial), then 8977 and 9010
Technical Outlook:
A pullback to the 8800 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 8940, 8977, and ultimately 9010.
Conversely, a daily close below 8800 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 8760 and 8700 as downside levels.
Conclusion:
FTSE100 maintains a bullish structure while trading above the 8800 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 8940 area. A breakdown below 8800, however, would invalidate this view and suggest deeper corrective risk.
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 FTSE100 equity index remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 8800 (primary pivot), followed by 8760 and 8700
Resistance: 8940 (initial), then 8977 and 9010
Technical Outlook:
A pullback to the 8800 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 8940, 8977, and ultimately 9010.
Conversely, a daily close below 8800 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 8760 and 8700 as downside levels.
Conclusion:
FTSE100 maintains a bullish structure while trading above the 8800 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 8940 area. A breakdown below 8800, however, would invalidate this view and suggest deeper corrective risk.
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.