FTSE: technical analysis
04 April 2018, 11:35
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 6996.8 |
| Take Profit | 6948.0, 6915.0, 6847.0 |
| Stop Loss | 7035.0 |
| Key Levels | 6847.0, 6915.0, 6948.0, 7072.0, 7100.0, 7170.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 7100.0 |
| Take Profit | 7170.0 |
| Stop Loss | 7072.0 |
| Key Levels | 6847.0, 6915.0, 6948.0, 7072.0, 7100.0, 7170.0 |
FTSE, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is turning down to retest its longer MA. The Composite is showing similar dynamics.
FTSE, H4
On the 4-hour chart, the instrument is falling from the middle MA of the Bollinger Bands. The price remains just below its moving averages that are directed down. The RSI is about to test from above its longer MA. The Composite is falling as well.
Key levels
Support levels: 6948.0 (local lows), 6915.0 (February lows), 6847.0 (local lows).
Resistance levels: 7072.0 (local highs), 7100.0 (local highs), 7170.0 (local highs).
Trading tips
The price has turned downwards, having failed its short-term descending trendline. The fall is likely to continue.
Short positions can be opened from current prices with targets at 6948.0, 6915.0, 6847.0 and stop-loss at 7035.0.
Long positions can be opened from the level of 7100.0 with the target at 7170.0 and stop-loss at 7072.0.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is turning down to retest its longer MA. The Composite is showing similar dynamics.
FTSE, H4
On the 4-hour chart, the instrument is falling from the middle MA of the Bollinger Bands. The price remains just below its moving averages that are directed down. The RSI is about to test from above its longer MA. The Composite is falling as well.
Key levels
Support levels: 6948.0 (local lows), 6915.0 (February lows), 6847.0 (local lows).
Resistance levels: 7072.0 (local highs), 7100.0 (local highs), 7170.0 (local highs).
Trading tips
The price has turned downwards, having failed its short-term descending trendline. The fall is likely to continue.
Short positions can be opened from current prices with targets at 6948.0, 6915.0, 6847.0 and stop-loss at 7035.0.
Long positions can be opened from the level of 7100.0 with the target at 7170.0 and stop-loss at 7072.0.
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