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FTSE 100 Inverted Cup-And-Handle Hints at Bearish BreakLike Germany's DAX that we highlighted earlier today, the UK's FTSE 100 is also on the verge of a bearish break down after a strong start to 2024. The UK index has formed a clear inverted cup-and-handle pattern over the last 10 weeks. Akin to the "head" and "right shoulder" of a head-and-shoulders pattern, this setup shows fading buying pressure and a potential reversal of an established bullish trend if the neckline, in this case at 8110, gives way. In that scenario, the UK index could erase much of the Q2 gain and retreat toward the 200-day MA around 7800.
FOREXCOM:UK100
by FOREXcom
1
FTSE-100 : SELLERS TAKE CONTROL- The market is trading above a bullish trendline since February-2024 ; the long-term trend is then bullish. - However, recently the upcoming general election has risen a lot of uncertainty in the UK. And with such a blurry political outlook, many investors have chosen to readjust their portfolio's exposure, which led to a pull back in prices. This pull-back led the market back to its mid-term bullish trend line for a fifth impact. The RSI indicator has already broken-out its own bullish-trend line, confirming that sellers are now in control. Both moving averages have registered a bearish cross and reversal, which also supports the case of a bearish continuation. - The anticipated bearish break-out registered by the RSI, combined with the current political uncertainty, tends to allow us to expect the bullish trend to be invalidated soon. We expect the market to remain volatile on the short-term basis, while next support levels can be located around 8,075pts, 4,945pts and 7,820pts by extension. Pierre Veyret, Technical Analyst at ActivTrades. The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ACTIVTRADES:UK100Short
by ActivTrades
UK100 FTSE100 - ABC Correction Uderway?Hello Guys, The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH. A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye. Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had. The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back. -> For the bulls 7900 has to hold - for the bears 8400. Thats all for now… Thanks for reading
FX:UK100Short
by MeruEU
Bearish drop?UK100 is rising towards the pivot which acts as an overlap resistance and could potentially drop to the 1st support which has been identified as a pullback support. Pivot: 8,221.18 1st Support: 8,135.01 1st Resistance: 8,281.68 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:UK100Short
by ICmarkets
1
FTSE 100 Trade Plans UpcomingThe UK major stock index (FTSE100) has seen sustained falls over a reasonable period of time. Currently there is no strong case for up moves, and similarly down moves. However, It is ranging to the downside on a slightly more 'unsure' outlook, as summarised by the technicals drawn. 1. Tech bias illustrates losing of value and a push to lows that ultimately may break on continued pressure. 2. Sentiment shows no real growth outlook and slight risk off view.
PEPPERSTONE:UK100Short
by WillSebastian
FreakFriday - FTSE 100 possible correctionExpected today was UK retail sales data, which rose 2.9% in the previous month. April's decline of -1.8% during a period of heavy rain on the island kept customers away from the stores, according to the UK's Office for National Statistics. The expected forecast was for a positive correction of 1.5% according to surveys but this has been far exceeded. Also important has been the factor of inflation, which had been very high until the previous month and returned to the right direction of the Bank of England after 3 years above the 2% target, which nevertheless remains high at around 5.7%. Add to this the increase in the average wage value versus inflation rate and consumer confidence appears to be recovering to 2021 values, according to the LSEG/Ipsos Primary Consumer Sentiment Index - PCSI survey which came in at +53.0 on Thursday, one of the oldest measuring indices started in 2010. Adding to what has been said yesterday, hopes of possible election rumors, it is believed that a landslide victory for Labour against the Tories, who claim to hold the key to rebuilding growth and carefully managing the state's coffers, currently heavily burdened with debt, may be in the offing. This would be a turnaround from 2016's Brexit and former Prime Minister Liz Truss's skeletal mini-budget for 2022 that hasn't been varying much. It is clear that if Labour wins rate cuts are looming to shrink debt and prop up the price of the pound and the search for stability in economic policy. UK fund managers seem to be hopeful of this, and it is believed that equity and credit valuations in the UK do not yet reflect the good that is to come, which would affect a better government bond rating, because of the tail risk that the Tories currently have with their fiscal policy, but it must also be understood that the 47.5 billion plus owed by the UK to Europe is not paid overnight and it was clear that there was going to be an economic impact. Some analysts believe that the reputation of increasing taxes and public spending may negatively affect bonds, because public finances are not in good shape. Nevertheless, two-year bonds fell to their lowest level after the BoE's decision according to LSEG, and this has caused them to outperform U.S. and European bonds due to those releases. It is possible that once the election factor is removed the UK's idiosyncratic risks and persistent inflation will facilitate a period of greater stability. Today being the Quadruple Witching Hour also known as Freak Friday where the quarterly maturities of futures and options on indices and stocks occur, with historical records in most of the equity markets, investors have reached Thursday with portfolios that recorded significant capital gains, hence, also warns the risk of a possible profit taking or at least put the brakes on the positions. And that is why today the markets are starting the morning in the red. If we focus on the FTSE 100 in London, we have witnessed since May 15 how the price corrected from the highs at 8,492.21 points, again the index tried to recover strongly the price to 8,371.41 points and then we have seen how since the beginning of the week an upward movement began. Currently the price zone of 8,260 points is considered overvalued and the RSI has marked an overbought signal at the beginning of the session, so it would not be unusual for the index during the summer period to begin a corrective period coinciding with the elections in the direction of its last support at 8,107.97 points. If the market remains in this bullish cloud, it is likely to retest the second resistance prior to the highs, where we will see if the market continues to support the index shares with the same strength or not. Ion Jauregui - ActivTrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ACTIVTRADES:UK100Short
by ActivTrades
Potential bullish bounce?UK100 is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance. Pivot: 8,094.06 1st Support: 8,003.06 1st Resistance: 8,245.38 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:UK100Long
by ICmarkets
FTSE on a 1-month correction. Is it over?Great display of compliance to technical dynamics by FTSE 100 (UK100) on our previous analysis (April 29, see chart below) as after hitting our 8350 Target it got rejected exactly at the top (Higher Highs trend-line) of the long-term +2 year Channel Up: The corrective pattern broke yesterday below the 1D MA50 (blue trend-line) for the first time since April 19, which technically opens the way for a test of the next Support level, the Higher Lows Zone. As you can see, this Zone has been providing Support (and the most optimal buy entry) since the January 17 Low. As a result, as long as the 1D MA100 (green trend-line) is holding, we will buy the next Higher Lows contact and target 8350 (Lower Highs projection similar to February 07 2024 and October 17 2023). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:UK100Long
by TradingShot
FTSE 100 Index Declines After Labour Market NewsFTSE 100 Index Declines After Labour Market News The British stock index FTSE 100 (UK 100 on FXOpen) dropped nearly 1% yesterday due to the release of economic data indicating a rise in unemployment. According to ForexFactory: → The Claimant Count Change (number of unemployment benefit claims) was 50,000 (expected = 10.2k, previous month = 8.4k). This is the highest number since March 2021. → The unemployment rate slightly increased to 4.4% compared to the previous value of 4.3%. However, today the FTSE 100 (UK 100 on FXOpen) chart is showing signs of recovery. Fundamentally: → GDP news did not bring any unpleasant surprises; → Weakening in the labour market might prompt the Bank of England to lower the interest rate to stimulate the economy, which should support the stock index. From a Technical Analysis Perspective of the FTSE 100 (UK 100 on FXOpen): → At the low of the decline, the price found support at the median line of the upward channel that has been in place since last autumn (shown in blue); → The median line is reinforced by the 50% Fibonacci retracement level from the bullish impulse A→B; → The price failed to consolidate below the late May low around the 8150 level, indicating a local capitulation of bears. Bulls, on the other hand, might use these technical support factors to attempt to resume the upward trend within the blue channel. To do this, they will need to break the resistance of the trend line (shown in red). Trade global index CFDs with zero commission and tight spreads. Open your FXOpen account now or learn more about trading index CFDs with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:UK100
by FXOpen
1