FTSE 100 Analysis: Weekly & Daily Charts
FTSE 100 WEEKLY SCENARIO
FTSE 100 TECHNICAL ANALYSIS: WEEKLY CHART
In the weekly chart, FTSE 100 is trading in the down channel.
FTSE 100 is currently trading below 5&20 SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting no trend.
Its immediate support is at 7577.6 & the resistance is at 7618.3
On the weekly chart, the FTSE 100 rose briefly before retracing a bit, the price started moving up and it is currently trading at a significant resistance level; if this level is broken, further upside is expected.
FTSE 100 TECHNICAL ANALYSIS: DAILY CHART
In the daily chart, FTSE 100 is trading in up channel.
FTSE 100 is currently trading below 20&50 SMA.
RSI is in Buying zone, which shows bullishness. Stochastic is suggesting up trend.
Its immediate support is at 7574.9 & the resistance is at 7615.8
On the daily chart, the FTSE rose, retraced a little, and then began to move upward once again. At this time, the price is trading at a resistance level; if this level is broken, additional upward movement may be witnessed.