FTSE: technical analysis
09 August 2018, 14:43
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 7710.0 |
| Take Profit | 7676.0, 7650.0 |
| Stop Loss | 7738.0 |
| Key Levels | 7650.0, 7676.0, 7710.0, 7738.0, 7790.0, 7870.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 7790.0 |
| Take Profit | 7870.0 |
| Stop Loss | 7745.0 |
| Key Levels | 7650.0, 7676.0, 7710.0, 7738.0, 7790.0, 7870.0 |
FTSE, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is trying to turn down slightly below the border of the overbought zone. The Composite is growing, having broken out its longer MA.
FTSE, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from above its longer MA, having failed the border of the overbought zone. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 7710.0 (local lows), 7676.0 (local lows), 7650.0 (local lows).
Resistance levels: 7738.0 (local highs), 7790.0 (June highs), 7870.0 (local highs).
Trading tips
The price has retested its strong resistance near 7790.0. There is a chance of a downward correction.
Short positions can be opened from the level of 7710.0 with targets at 7676.0, 7650.0 and stop-loss at 7738.0. Validity – 3-5 days.
Long positions can be opened from the level of 7790.0 with the target at 7870.0 and stop-loss at 7745.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is trying to turn down slightly below the border of the overbought zone. The Composite is growing, having broken out its longer MA.
FTSE, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from above its longer MA, having failed the border of the overbought zone. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 7710.0 (local lows), 7676.0 (local lows), 7650.0 (local lows).
Resistance levels: 7738.0 (local highs), 7790.0 (June highs), 7870.0 (local highs).
Trading tips
The price has retested its strong resistance near 7790.0. There is a chance of a downward correction.
Short positions can be opened from the level of 7710.0 with targets at 7676.0, 7650.0 and stop-loss at 7738.0. Validity – 3-5 days.
Long positions can be opened from the level of 7790.0 with the target at 7870.0 and stop-loss at 7745.0. Validity – 3-5 days.
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