FTSE: technical analysis
19 September 2017, 12:47
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 7299.0 |
| Take Profit | 7354.0, 7385.0 |
| Stop Loss | 7265.0 |
| Key Levels | 7125.0, 7168.0, 7203.0, 7299.0, 7354.0, 7385.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 7203.0 |
| Take Profit | 7168.0, 7125.0 |
| Stop Loss | 7238.0 |
| Key Levels | 7125.0, 7168.0, 7203.0, 7299.0, 7354.0, 7385.0 |
FTSE, D1
On the daily chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains just below its moving averages that start turning down. The RSI is growing, having turned up slightly above the border of the oversold zone. The Composite turned up as well, having failed its strong support.
FTSE, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is testing its longer MA. The Composite begins forming a Bearish divergence with the price.
Key levels
Support levels: 7203.0 (local lows), 7168.0 (April gap), 7125.0 (October 2016 highs).
Resistance levels: 7299.0 (July lows), 7354.0 (January highs), 7385.0 (local highs).
Trading tips
The price returned into its medium-term descending channel. A breakout of a strong resistance near 7299.0 would allow the growth to continue.
Long positions can be opened from the level of 7299.0 with targets at 7354.0, 7385.0 and stop-loss at 7265.0. Validity – 3-5 days.
Short positions can be opened from the level of 7203.0 with targets at 7168.0, 7125.0 and stop-loss at 7238.0. Validity – 3-5 days.
On the daily chart, the instrument is correcting up from the lower line of the Bollinger Bands. The price remains just below its moving averages that start turning down. The RSI is growing, having turned up slightly above the border of the oversold zone. The Composite turned up as well, having failed its strong support.
FTSE, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is testing its longer MA. The Composite begins forming a Bearish divergence with the price.
Key levels
Support levels: 7203.0 (local lows), 7168.0 (April gap), 7125.0 (October 2016 highs).
Resistance levels: 7299.0 (July lows), 7354.0 (January highs), 7385.0 (local highs).
Trading tips
The price returned into its medium-term descending channel. A breakout of a strong resistance near 7299.0 would allow the growth to continue.
Long positions can be opened from the level of 7299.0 with targets at 7354.0, 7385.0 and stop-loss at 7265.0. Validity – 3-5 days.
Short positions can be opened from the level of 7203.0 with targets at 7168.0, 7125.0 and stop-loss at 7238.0. Validity – 3-5 days.
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