TechnicalAnalyst

TechnicalAnalyst

The FTSE 100 pulled away from the upper Bollinger Band on Feb 07, 2019 as momentum began to fade. It then struggled to peak at 7261.6 on Feb 15, 2019. From here, it has been heading South, down it's current level of 7104.3 It has crossed the middle Bollinger Band into the lower band as the Bollinger bands are currently in contraction or squeeze phase. This should...

TechnicalAnalyst

The FTSE 100 has closed above the 7186 and then 7196 resistance levels. But it has fallen back below them a gain. This is a critical moment. For the new bullish trend to continue effortlessly, it needs to close above these resistance levels. In which case, the price could rise to test the 7365 resistance. Otherwise, it will go sideways or even downside for a while...

TechnicalAnalyst Updated 

The FTSE 100 has broken out decisively out of a newly formed symmetrical triangle. The breakout occurred on January 31, 2019. As you can see from the pattern above. It now needs to stay above the upper trendline as well as the middle Bollinger Band. It probably will in my humble opinion. However, if it breaks down below the upper trendline and the middle...

TechnicalAnalyst

The FTSE 100 did successfully break out from a Descending Wedge & A Narrow Descending Channel Pattern formation. Please, read my previous publications. However, it failed to take out it's previous high of 7145.5. Worse still, it even failed to surpass it's own recent high of 7001.9. Where does this leave us? The reality is that unfortunately, the bears are...

TechnicalAnalyst Updated 

The FTSE 100 has shown a bullish break out from a descending (bearish) channel that began in July 2018. It has also crossed the middle Bollinger band. However, it has not taken the 50 day EMA even though it is inside the Bollinger bands. All moving averages inside the Bollinger bands have to be taken for it to be truly bullish or bearish once a trendline is...

TechnicalAnalyst

uk.tradingview.com The FTSE 100 Daily Chart for Dec 20, 2018 has revealed a falling wedge pattern formation. It is usually a sign that we are getting to the bottom of market price action. It is classically a reversal pattern. But there are no guarantees. An upside breakout is most likely (75% chance). A downside breakout is less likely (25% chance) but it can...

TechnicalAnalyst

It's been a relatively good day for the FTSE 100 Index and related ETFs. FTSE 100 gave up about 1.2% of the initial 2.4% rise today. It still managed to make 1.2% at close. Not bad. With today's move (daily chart), the bulls took a decisive step but they are not out of the woods just yet in my opinion. Yes, price broke out forcefully through the resistance...