. Index Price News - FTSE 100 Forecast & Technical Analysis

Index Price News – FTSE 100 Forecast & Technical Analysis

Index Price News – FTSE 100 Forecast & Technical Analysis

FTSE 100 FORECAST & TECHNICAL ANALYSIS

FTSE 100 NEWS AND TECHNICAL

FTSE 100 declines as market turbulence from China COVID protests

Energy and mining companies led overall losses on Monday as the London Stock Exchange’s FTSE 100 fell amid concerns about China’s economic future in the wake of the country’s infrequent demonstrations over its stringent COVID-19 regulations.

The FTSE 100 fell 0.7%.

After two weeks of increases that brought the index to its greatest levels in more than two months, the blue-chip FTSE 100 (.FTSE) dropped 0.7%. The FTSE 250 midcaps index (.FTMC), which has a stronger domestic focus, dropped 0.9%.

FTSE 100 INDEX TECHNICAL ANALYSIS:

DAILY CHART:

In the daily chart, FTSE 100 is trading in the up channel

FTSE 100 is currently trading above all SMA

RSI is in Buying zone which suggests FTSE 100 is in buying zone, Stochastic is suggesting no trend.

FTSE 100 immediate resistance is at 7490.6 & its immediate support level is at 7453.1

HOW TO TRADE S&P INDEX IN THIS WEEK

FTSE 100 is moving in an up channel; despite today’s fall it is trading in up channel, and it is in buying zone. So, remain bullish on it until any trend reversal.

TRADE SUGGESTION-BUY AT 7490.6, TARGET AT 7540.6, SL AT 7434.4

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