Market Overview: FTSE 100 Futures

FTSE 100 futures went sideways to up final week excessive up in a long-term buying and selling vary. We have been in breakout mode for a very long time after which received a powerful bull breakout so we must always get one other leg up at the least. Bears need to fade the highs of the buying and selling vary however shouldn’t have a superb sign but. We’re at all times in lengthy.

FTSE 100 Futures

The Weekly FTSE chart

• The FTSE 100 futures chart final week was a bull bar with a tail above final weeks bar, however with an in depth under final week’s excessive.
• Most merchants will see it as a buying and selling vary.
• It was almost an outdoor bar so will most likely commerce like one as effectively.
• Bulls see a spike up from the MA and anticipated the primary reversal to be minor. It was.
• Final week was an outdoor bar, a buying and selling vary on the LTF. Trading ranges act like continuation patterns in sturdy traits.
• Most merchants count on the spike to show right into a spike and channel and it seems like we’re within the channel section.
• Within the channel section, bulls purchase and scale in decrease. Usually shopping for weak bear bars like final week.
• Because the channel continues, bulls will probably purchase midpoints and under bars till they assume it’s time for a correction primarily based on worth motion.
• The bears noticed a spike / climax as much as the highest of a buying and selling vary. They have been in search of a 2nd entry brief right here. They received one bar within the prior week nevertheless it didn’t set off the promote under it.
• There are measured transfer targets so until subsequent week can do one thing to make bulls hand over we’ll most likely go larger.
• At all times in lengthy so merchants needs to be lengthy or flat.
• Anticipate sideways to up subsequent week.
• Its frequent for worth to hit assist or resistance and go sideways. It’s a logical place for orders to be sitting. However as soon as the commerce is reside and bars are printing, every dealer is managing expectations.
• The bears have little threat and massive reward – so low likelihood. They’ll probably hand over or scale in to extend likelihood.

The Each day FTSE chart

• The FTSE 100 futures final week was a giant bull bar with a tail on high testing the prior excessive.
• We mentioned final week in a bull spike and channel, merchants enter through the lows of the channel and take earnings on the excessive which we did all week.
• The bulls see a spike and channel however a good buying and selling vary right here. They don’t need it to go on for too many bars or their likelihood begins going again to 50/50.
• Good shut but additionally not that good. Under Wednesday’s excessive was a shock.
• If you happen to squeeze your eyes you’ll be able to see a wedge backside or at the least 3 failed makes an attempt to reverse.
• However this sign bar might be a purchase the midpoint or wait on Monday to see if we hole up.
• It’s also possible to BTC if you’re keen to carry extra dimension so as to add on decrease or larger.
• Bears see a good buying and selling vary and made cash promoting above bars. However is that this the most effective commerce you’ll find on this atmosphere? 
• Take a look at shaved tops and bottoms of bars.
• Friday didn’t go under the shut of Thursday. That tells you that extra merchants have been ready for a superb purchase space and took it. 
• If merchants are shopping for dangerous bears bars, then you definitely most likely need to be a bull!
• We’re close to the all-time highs and so your threat/reward is superb however likelihood may be very low if you’re shorting proper now.
• At all times in lengthy so merchants needs to be lengthy or flat.
• Anticipate sideways to up subsequent week.

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