Long Term
The market trend factors in multiple indicators, including Simple Moving Average, Exponential Moving Average, Pivot Point, Bollinger Bands, Relative Strength Index, and Stochastic.
FTSE:
The current market price is 8750.00, reflecting a 1.15% increase from the previous close.
Support and Resistance Levels
Key support levels are at 8740.00, 8730.00, and 8720.00, while resistance levels are 8765.00, 8775.00, and 8780.00, with a pivot point at 8755.00.
Indicators
The RSI is at a strong 71.94, indicating overbought conditions. The ADX is climbing at 84.36, suggesting a strong trend, and ATR sits at 12.37, indicating rising volatility. Both 50-day SMA and 200-day EMA are trending upwards, confirming bullish momentum. The Parabolic SAR shows support at 8741.00.
Market Sentiment
Since the market price is above the pivot point (8755.00) and indicators support a bullish scenario, the outlook remains positive.
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.