Ftse100
UKX to 9090?FTSE100 (UK100, UK stocks index) been laggard for many years in comparison with many of it's peers. Now it seems the UKX will finally make new all-time high🍾 and will go even higher. I think we are in continuation move up after breaking out of the consolidation in form of triangle. Target @ 9090 being measured move - height of the triangle projected from midpoint of local range. Invalidation would be the local range low @ 4791 which is too far away meaning unfavourable reward risk ratio but this idea is rather about directional bias. Bear in mind this is monthly chart so the move will not happen over night obviously.
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FTSE 100 still at highest levels in 5 years despite this morningThe performance of the 100 most prestigious companies listed on the London Stock Exchange has made for exciting viewing over recent days, with the FTSE 100 index that tracks them having rocketed in value.
Last week, the FTSE 100 index raced to its highest point in over three years, with some analysts across the City of London having begun to wonder whether it may reach 8,000 points.
Yesterday, the rally continued, and the FTSE 100 reached its highest position in five years, which is a remarkable milestone, as the trading day ended at a very high 7,856.
This morning, the trading bonanza came to an abrupt end, as a sudden drop took place at 9.00am during the London trading session, signaling a break in the FTSE 100 index's almost unstoppable rally.
However, even after such a drop, the FTSE 100 was still standing at 7,845 points which is still its highest point in five years apart from yesterday's peak.
The sudden drop was quickly reversed, and by 9.30am there was a slight movement upwards once again, which by 9.45am resulted in a climb back to 7,849 points.
Now it is hard to tell whether this upward movement will continue and cancel out this morning's drop entirely, or whether this is the end of the massive rally experienced by the FTSE 100 index over recent weeks.
Interestingly, in this age of high technology in which internet giants such as Amazon and Google dominate the world's corporate stage, NASDAQ has been hit badly with weakening overall stock values as the US tech stocks and electric vehicle manufacturers' poor performance has had an impact.
Meanwhile the FTSE 100 which tracks traditional firms such as airlines, mining companies, banks, pharmaceuticals, retail giants, supermarkets and healthcare firms among others, is booming.
All this with a backdrop of a weak economy in the United Kingdom and high inflation compared to greater production output and lower inflation in the United States.
For the moment, it certainly appears that there is life in 'low tech' and that London's trading floor is a hive of activity.
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
FTSE 100 rockets to 1 year high! Will it reach 8,000?Today, London's stock market is experiencing a bonanza, as the FTSE 100, which is the index that includes the 100 most prestigious and well capitalized blue-chip companies which are listed on the London Stock Exchange, has rocketed to an astronomic 7,741 points.
This represents the highest level that it has reached in over one year, by quite some margin.
In fact, today's lofty value demonstrates a level that the FTSE 100 index did not even come close to during the entirety of 2022.
It was only a year and a half ago that the news channels were awash with sensationalism as the FTSE 100 index broke past the 7,000 mark, and now, at over 7,740, it is heading for the 8,000 mark!
There has been tremendous volatility within corporate stocks over the past two years, especially within the indices because these contain a range of different companies in different sectors, and whilst in 2020 and 2021 the big pharmaceuticals boomed, the travel and hospitality industries paid a large price for draconian lockdowns.
Equally, traditional goods manufacturers had their fortunes hampered by logistical problems which meant getting materials and goods from suppliers was difficult enough to cause them to be unable to deliver enough goods to meet orders. House builders did well because of the short-term break in stamp duty resulting in investors buying up smaller value properties, however the reintroduction of that plus rising interest rates curtailed that boom swiftly.
In 2022, it was all about energy companies and 'big oil', which boomed as the supply could not meet the demand, whereas some tech stocks and airline stocks languished.
Some analysts are saying that today's FTSE 100 high value, which comes after a continued upward direction since the beginning of this year, has been helped by seasonal retail buying as JD Sports and Sainsbury's made bumper profits.
JD Sports, one of Britain's largest national chains of sportswear, reported revenues growth for the 22 weeks to 31 December of more than 10%, which compared with growth of 5% over the first half of its financial year.
Sainsbury’s, one of the UK's largest supermarket chains stated that trading in general merchandise had been stronger than expected, with overall like-for-like sales growth of 5.9% in the 16 weeks to 7 January reflecting inflation and “relatively resilient” volume trends.
There is certainly a lot of volatility in the blue-chip stocks, which is a relatively new dynamic as such large firms which go to make up indices such as the FTSE 100 are traditionally very slow movers in terms of stock value, largely due to their conservative positions and need to please long-term shareholders.
FTSE 100 Cup & Handle at 15 min timeframe?FTSE 100 has recently experienced golden cross on 1-day charts. Resistance in 7600s was surprisingly easily bypassed Friday / Monday, and 7700+ was comfortably reached again post uneventful JP speech. Is this a bullish cup & handle on 15 minute, suggesting push towards 7800? Or will the FTSE face trouble with upcoming earnings this week, given last nights data outline sales haven’t outstripped inflation. Technicals and fundamentals appear divergent, as do RSI / price. Extensive resistance exists ~7775-7800, and above too where ATH sits. Is a turnaround nigh, or a new ATH. Thoughts?
Key DXY levels to watch for rebound Dollar is on support right now confluences being 61fib and major trend line and covid flight to safety high of 2020 this makes the level between 103-102.5 very interesting for a rebound.
if it does not bounce here id expect. small bounce at next technical level and then a major bounce at 100.
imo everything is lining ups dollar low, gold high stocks and indices are high look at DAX AND FTSE100 with SPX coming into key resistances. I expect reversal soon narrative of a bull run doesn't make sense at this point in time.
🇬🇧 UK100 Direction North 🇬🇧 🇬🇧 UK100 Direction North
🇬🇧 Today's strong breakout of the main British index has opened a great opportunity for the possibility of a continuation of the upward trend.
🇬🇧 The price at the opening of pre-session trading last night slid to the support zone determined by the 0.236 level of the entire upward wave. Then there was a strong breakout and at the opening of the trading session it lifted the price to new peaks. Where the resistance zone is currently located.
🇬🇧 Looking at the strong trend and the technical environment, the continuation of growth at this point seems very likely.
🇬🇧 The scenario I am playing out is a continuation of the increases to reach new local peaks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
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FTSE going to beat major indices and close the year in gains?The FTSE100 index (FTSE100) has resumed its bullish trend since the October 13 bottom after hitting both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) on December 20. In fact, against all odds during this inflation crisis and in contrast to its heavy stock index counterparts, it is about to close the year in gains (if it stays above the 7420 level this week).
Practically, the index has been within a huge Rectangle pattern in 2022, ranging within 7700 and 6710. If that's not impressive enough, it just completed a Golden Cross on the 1D time-frame (when the 1D MA50 crosses above the 1D MA200), which is technically a bullish formation. Last time we saw this pattern was on December 02 2020, as the index was recovering from the COVID crash globally. The price made a Low exactly at the time of the Golden Cross and started a very sustainable rise pattern.
What adds more weight to a bullish continuation, is the fact that the RSI on the 1W time-frame tested and held the former Lower Highs trend-line that was in effect through the majority of 2022.
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UK100 Can Fall (FTSE100)UK100 Can Fall (FTSE100)
Harmonic pattern
Supply zone
Previous ChoCh and BOS
UK100 27th DECEMBER 2022Uncertainty of trade relations with the EU dealt a big blow to investment and business, which in the third quarter was 8% below pre-pandemic levels. Although, the trade deal between the UK and the EU has been ongoing for two years.
The UK's decision to leave the European Union, known as Brexit, has had a major impact on the UK economy. Brexit has been a drag on UK businesses and foreign companies using the UK as a European base. It weighs on imports and exports, drains foreign exchange, and contributes to labor shortages. All of which exacerbates the UK's inflation problem to the detriment of workers and the business community.
FTSE 100 begins slow recovery from 1 month lowThe FTSE 100 index , which is the index containing the 100 most prestigious companies on the London stock exchange plummeted to a one month low on Friday.
There has been some degree of volatility in that particular index during the course of the last 30 days, but overall it has been quite steady and fans back each day.
On Friday, December 16 however, it’s suddenly plunged to 7306, representing its lowest point by far in over 30 days.
Just three days earlier the FTSC 100 index was standing at a very healthy 7526 so to plunge more than 200 points in three days is quite a downward spiral.
Perhaps some of the reason, for it is actually short term rather than anything to do with an overall lingering knowledge that the UK economy is generally struggling and has been for some time.
In fact, some analysts are noting that this is more to do with strikes in the public sector which are taking place during the course of this week having started on Friday last week, which coincides with the sudden plunge of the FTSE 100 index, and that these public sector strikes which affect the logistics and civil service could impede the operations of large corporations.
This would make sense, because of course, everybody is already accustomed to the difficulty economic circumstances which surround the overall UK economy there for such circumstances, would not be likely to have caused the sudden downturn in share performance.
It is, therefore, perhaps, worth looking out for how the FTSE 100 index performs after the strikes have finished and a possible settlement with workers unions may well be reached.
Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
FTSE100 - Further downside is expected UK100 - Intraday - We look to Sell at 7425 (stop at 7500)
Previous support located at 7300. Previous resistance located at 7400. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7425, resulting in improved risk/reward. A move through 7300 will confirm the bearish momentum.
Our profit targets will be 7250 and 7200
Resistance: 7400 / 7425 / 7500
Support: 7300 / 7250 / 7200
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UK100 D1: TP +600 points BEST Level TO SHORT IT(SWING/NEW)Why get subbed to me on Tradingview?
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UK100 D1: TP +600 points BEST Level TO SHORT IT(SWING/NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: US/Global stock markets are maxed out
::: distribution in progress on daily TF
::: maxed out already / will re-test range lows
::: SHORT IT near market / short rips / rallies
::: expect pullback/correction mode SOON
::: BEARS will target re-test of range lows
::: maxed out / overbought conditions
::: BEARS will take over from overhead
::: expect limited upside going forward
::: SHORT IT near market Target is 6850/6950
::: Conservative TP BEARS is 7 000 points
::: unsustainable gains, pullback incoming
::: distribution at the TOP setup
::: spells MAJOR trouble for the BULLS
::: BEARS taking over from overhead S/R at 7500
::: expecting CORRECTION to last next 2-6 weeks
::: distribution at the top in progress
::: will lose up to 10% during pullback/correction
::: There is no upside in this market now
::: Get out / trim exposure / or SHORT IT
::: RISK/REWARD shifting in BEARS favor
::: into BEAR mode soon
::: either way setting up for 10%+ correction
::: 4-6 weeks of correction incoming soon
::: better be prepared in advance
::: when there's GREED there's also PAIN
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment: BEARS/BULLS GAME OVER
::: Sentiment outlook short-term: BEARISH /CORRECTION
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
FTSE pulls back into support zone, bullish trend remains strongAn interesting setup may have formed on the FTSE 100 daily chart. It has seen a strong rally from its October low and since produced a relatively shallow pullback from the 7600 resistance zone. The RSI (2) was oversold on Thursday and curled higher on Friday, which closed the day with a Spinning Top Doji candle to suggest a swing ow has formed. Furthermore, the 50-day EMA and monthly pivot point are supporting the pullback, so we’re now looking for a bullish swing trade and for the market to move higher.
Take note of the plethora of UK data released shortly, and the UK are set to release employment data tomorrow, inflation data on Wednesday and the BOE announce their monetary policy decision on Thursday.
UK100 FTSE Technical Analysis and Trade IdeaTaking a look at the UK100 FTSE at the moment. In the video we look at key support and resistance levels, the trend, and discuss a possible trade opportunity. As always everything, explained in the video, and not to be construed as financial advice.
UK100GBP LongThe index has retested the upper trend line of the falling flag, after the breakout.
I anticipate that the index will continue with the bullish momentum since the client sentiment indicate that there are more than 70% of the traders are bearish, a major indication that the price might move reversal of that.
My entry point is 7570, my targets are 7650, 7700, and 7810.
My Stop loss is at 7490, which is below a major market zone. My target R:R is 1:3.
Kindly, risk on 1-2% of your account.
$FTSE - Where to next? Longer term.$FTSE - Where to next? Longer term.
Here's a look of what could happen with the ftse going forward.
Technical view:
Got a stocks and share ISA? Take advantage of the great price points. As we are getting towards end of the year adjusting portfolio and to seek out further long term positioning. One specific instrument I have been looking at is the FTSE - Any pull back towards 700-630 - I will be buying the dip! The same principle goes for various other indices as well. FTSE - Inverse H&S if we break below 620 - this idea is no longer valid. I will be taking into considerations fundamentals as well.
Not Signal Provider or Investment Advice
FTSE broken out of downside target 7.890Reverse Cup and Handle has formed on the FTSE100
7 >21 >200 - Bullish
Target 7,890
Also we have the medium term downtrend broken up for the first time and so bullish momentum is kicking in.
FTSE 100 LongHello guys.
According to the higher timeframe of this index (1D), the trend is forming a falling flag, which might be a strong indicator of a bullish momentum.
According to the lower timeframe(1H), there is a formation of a falling flag, which has been completed and the index has broken out of the trend forming a bear trap. I anticipate that the price might reverse and a bullish momentum might start.
Also, the market client sentiment indicate that most traders are shorting the index(80%) and we are aware that the price moves against the crowd.
My entry position is at 7440, TP targets at 7490, 7540 and 7590. My stop loss is at 7390. My R:R target is 1:3.
Remember, risk only 1-2% of your account and when the first target is hit, move your SL above the entry point!