. Today FTSE 100 Index Update - 08 May 2023

Today FTSE 100 Index Update – 08 May 2023

08 May 2023

FTSE 100 INDEX Technical Analysis: Weekly Chart

weekly chart

In the weekly charts, FTSE 100 INDEX is trading in an up channel. FTSE 100 INDEX is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 7700 & the resistance level is at 8100

FTSE 100 INDEX will trade in an up channel until there is a trend reversal.

FTSE 100 INDEX Technical Analysis: Daily Chart

weekly chart

In the daily charts, FTSE 100 INDEX is trading in an up channel. FTSE 100 INDEX is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 7800 & the resistance level is at 8100

FTSE 100 INDEX will trade in an up channel until there is a trend reversal.  

How to Trade FTSE 100 INDEX this Week:

FTSE 100 INDEX will follow the uptrend until its trend reversal. So, remain bullish on FTSE 100 INDEX

TRADE SUGGESTION- BUY AT 7893.90, TAKE PROFIT AT 8100.00, AND STOP LOSS AT 7700.00