Current trend
The leading index of the London Stock Exchange FTSE 100 has been growing for the third month amid expectations of a change in the vector of monetary policy by the world’s leading regulators and the start of lowering interest rates: during this time, the price reversed at 7265.6 (Murrey level [1/8]), entered the positive part of Murrey’s trading range and is now testing 7734.4 (Murrey level [7/8]), after consolidating above which, growth to the area of 7812.5 (Murrey level [8/8]) and 7890.6 (Murrey level [ 1/8]) is possible. The key “bearish” level is 7578.1 (Murrey level [5/8]) below the middle line of Bollinger bands. After its breakdown, a decline within the central Murrey channel to the area of 7500.00 (Murrey level [0/8]) and 7421.9 (level Murrey [–1/8]) is possible.
Technical indicators reflect that the upward trend will continue: Bollinger Bands and Stochastic are directed upwards, and the MACD histogram is increasing in the positive zone.
Support and resistance
Resistance levels: 7734.4, 7812.5, 7890.6.
Support levels: 7578.1, 7500.00, 7421.9.
Trading tips
Long positions may be opened from 7750.00 with the targets at 7812.5, 7890.6 and stop loss around 7707.0. Implementation time: 5–7 days.
Short positions may be opened below 7578.1 with the targets at 7500.00, 7421.9 and stop loss around 7625.0.
Hot
No comment on record. Start new comment.