Forex, Comex and CFDs Trading Technical Analysis: FTSE 100

Showing posts with label FTSE 100. Show all posts

Thursday 14 August 2014

Stock Market Overview

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European stocks climbed after the Bank of England (BoE) upgraded its economic

growth forecast in its Inflation Report on Wednesday.

The BoE's forecast for the UK economy is that it will grow 3.5% this year, compared

to an earlier estimate of 3.4%.

In 2015 the Bank expects growth of 3%, up from the previous 2.9% projection.After

a slow start, the FTSE 100 was up 0.4% at 6,662 by midday, though ex-dividend stocks

were limiting upside on the index.

It is managing to close above 6600 level from last few trading session so in upcoming

session further recovery is expected as RSI has trading above the level of 50 and looking

strong for buying.

Index has managing to trade above 50 DMA and facing resistance from 200 DMA

crossing of it can test the level of 6850.

 

UK market overview

UK stocks had practically clawed back all of their losses come the end of

trading on Tuesday as investors continued to watch geopolitical

developments across the globe.

The FTSE 100 was down just 0.01% at 6,632 by the close, having touched a

low of 6,617.31 early on.

Index has trading in narrow range of 6600 to 6650 for upcoming session

if it is managing to give closing above 6600 level crossing of 6650 level

it can test the level  of 6700,RSI has trading above the level of 50 and

looking strong for buying.

Index has managing to trade above 50 DMA and facing resistance from

200 DMA crossing of it can show further upside movement.

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UK Stock Market Overview, Tuesday, August 12 2014

UK stocks registered a decent gain on Monday as investors

took advantage of the bargains to be had following last

week's declines and grew in confidence as geopolitical

tensions eased.

After making a fairly steady climb throughout the day,

the FTSE 100 ultimately closed 65.46 points  higher at

6,632.82.

For upcoming session 6500 level will be act as good

psychological support if it manages to sustain above that

short term recovery is expected, and it can test the level

of 6700.

As FTSE 100 opened gap up and manages to sustain above 6600

level and facing resistance at 6650 level crossing of it can

show northward journey in the index.

FTSE 100

UK stocks had pared earlier losses by the close of trading although risk-averse traders remained on the sidelines in light of the heightened geopolitical tensions across the globe.

The FTSE 100, which closed Thursday at a four-month low of 6,597.37,

traded down by another 0.45% to 6,567.36 at the end of trading, after

bouncing back from an intra day low of 6,528.73.

Through out the week index has showed selling pressure and closed

the week with the loss of 130 points.

For upcoming session 6500 level will be act as good psychological

support if it manages to sustain above that short term recovery

is expected, breaching of it can show further downside movement.