. 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 Technical Analysis

FTSE 100 stalled by Vodafone outlook cut, weak employment data.

The UK’s FTSE 100 inched higher on Tuesday, mirroring gains in global markets, while a disappointing outlook from Vodafone and weaker-than-expected employment data checked further gains.

The blue-chip FTSE 100 rose 0.1%, hovering just below a two-week high hit last week, following a strong session in Asian markets on optimism over China’s easing COVID-19 restrictions.

However, weighing on the index, Vodafone tumbled 6.9% to a two-year low after the mobile phone group cut its full-year free cash flow forecast, reflecting a worsening global macroeconomic climate and higher energy costs.

FTSE 100TECHNICAL ANALYSIS:

DAILY CHART

In daily chart FTSE 100 is moving in upside channel.

It is currently trading above all MA.

RSI is in buying zone stochastic is suggesting uptrend.

Its immediate resistance is at 7412.3 and immediate support level is at 7372.1

HOW TO TRADE FTSE 100 INDEX IN THIS WEEK

FTSE 100 is moving in an up channel if it breaks it immediate resistance and sustains on it then market will continue to trade up, remain bullish on it.

TRADE SUGGESTION-BUY AT 7402.0, TAKE PROFIT AT 7455.5, SL AT 7318.4

About Author

Related posts

Leave a Reply