AvaTrade - Analytics

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FTSE 100 in a sideway pattern

The FTSE 100 is trading in a sideway pattern on 4 hour time frame. This confirms that we do not have any dominating trend however, the price is trading below the downward trend line and it need to break above its trend line before it continuous its move towards the upside. Otherwise, the path of least resistance remains towards the downside. The price is also trading below the 50 day shown in yellow and the 100 day moving average shown in red and this is an evidence that the immediate control of the price is in the hands of bears.

The MACD and the RSI are trading in line with the price action and this means that the downward move may continue.

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Important Zones

6773-6740 Support

7059- 7032 Resistance



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