Market Review

FTSE: technical analysis

FTSE, H4

On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is approaching the border of the overbought zone. The Composite is testing from above its longer MA, having formed a Bearish divergence with the price.

FTSE, D1

On the daily chart, the instrument is trading in the lower Bollinger band. The price remains just above the EMA65, EMA130 and SMA200 that start turning down. The RSI is growing, having bounced off the border of the oversold zone. The Composite is testing from below its longer MA.

Key levels

Support levels: 7130.0 (local lows), 7080.0 (March lows), 7000.0 (January highs).

Resistance levels: 7315.0 (local highs), 7370.0 (March highs), 7480.0 (local highs).

Trading tips

The price has broken down its medium-term ascending trendline. The fall could continue.

Short positions can be opened from current prices with targets at 7130.0, 7080.0, 7000.0 and stop-loss at 7370.0. Validity – 3-5 days.

Long positions can be opened from the level of 7370.0 with the target at 7480.0 and stop-loss at 7315.0. Validity – 3-5 days.

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 7288.0
Take Profit 7130.0, 7080.0, 7000.0
Stop Loss 7370.0
Key Levels 7000.0, 7080.0, 7130.0, 7315.0, 7370.0, 7480.0

Alternative scenario

Timeframe Weekly
Recommendation BUY STOP
Entry Point 7370.0
Take Profit 7480.0
Stop Loss 7315.0
Key Levels 7000.0, 7080.0, 7130.0, 7315.0, 7370.0, 7480.0

About us

Risk Warning. Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.

Our company’s service is not provided to the citizens (residents) United States of America, Canada, Israel, Belgium, Japan and the Republic of Vanuatu and citizens of any state or country where the service is not made available.

This site contains basic information that is relevant to the following companies:

- Tifia Markets Limited is licensed as a "Dealer in Securities" (registration number 40209) by the "Ministry of Finance and Economic Management" and regulated in accordance with the "Dealers in Securities (Licensing) Act [CAP.70]" of the Republic of Vanuatu. The Company address: Govant Building, BP 1276 Port Vila, The Republic of Vanuatu.

Callback
LiveZilla Live Chat Software