FTSE:
The current market price is $8705, reflecting a 1.83% increase from the previous close.
Support and Resistance Levels
Key support levels are at $8600, $8550, and $8500, while resistance levels are at $8750, $8800, and $8850. The pivot point is at $8650.
Indicators
The RSI is at 58.44, indicating bullish momentum. The ADX stands at 38.82, suggesting a strong trend. The ATR of 171.94 points to high volatility, while the 50-day SMA is at $8702 and the 200-day EMA at $8700, both indicating upward momentum. The Parabolic SAR supports an uptrend.
Market Sentiment
With market price above the pivot point ($8650) and supportive indicators, bullish momentum is expected.
FTSE Signals & Technical Analysis
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The FTSE 100 is an index of the top 100 companies listed on the London Stock Exchange. It is a weighted average index, based on market capitalization. Pronounced “footsie,” the FTSE is comprised of established blue chip companies from various industries including energy, construction, and pharmaceuticals. FTSE valuations are an indicator of the U.K.’s aggregate economic prowess and are influenced by corporate earnings, foreign trade levels, and the political environment.