Market Overview: FTSE 100 Futures
The FTSE futures market moved decrease final month, the third push down, so bulls see a wedge bull flag. We paused on the MA, and we’ve been going sideways for over a 12 months now. Merchants are shopping for under bars and promoting above bars because the market lacks sturdy momentum. Most merchants ought to anticipate an inexpensive stop-order entry on this timeframe.
FTSE 100 Futures
The Month-to-month FTSE chart
- The FTSE 100 futures final month was a bear bar closing on its midpoint on the MA, a attainable wedge bull flag.
- It’s a weak shut, a nasty promote sign for subsequent month, but it surely’s additionally a nasty purchase sign – so we’ll possible go sideways once more.
- In 2 years, what number of bars have been under the MA? So if we break under subsequent month, it’ll most likely be purchased again up.
- The bulls need a purchase sign above this month – a Excessive 2 on the MA. However the sign bar is a bear bar so it’s weak.
- Most merchants can buy above a bull bar.
- The bears see a LH, a attainable head and shoulders high, and need a MTR. They need a check again to 7000.
- There has solely been one consecutive bear bar in 2 years – so this month will possible be a bull bar.
- July was an outdoor bar, so most likely sellers above.
- There are numerous tails under this month so most likely consumers under.
- Bears need to get again to the October excessive – some bears might need been trapped there with a shock reversal.
- We additionally gapped up above July so there may be bulls caught up there as properly we have to set free.
- Most merchants mustn’t enter on the MA.
- Okay to be brief or flat. Bulls ought to have exited under final month.
- Superior merchants can use scaling in and they’ll most likely received out on the midpoint the place final month closed.
The Weekly FTSE chart
- The FTSE 100 futures moved increased as merchants purchased above the within bar final week.
- It was a attainable bull reversal final week, and we stated that many bulls could be shopping for low and scaling in decrease.
- Technically we’re nonetheless extra possible brief with a decrease excessive and a decrease low. Bear stops haven’t been hit, however bulls might need been on the check of the lows.
- Bulls see a wedge bull flag on the HTF and a double-bottom reversal setup.
- It’s a breakout and follow-through – however we aren’t all the time in lengthy but, almost certainly till we get above the MA.
- It’s a good bull bar with a small tail, so some merchants will purchase and scale in decrease.
- Bears see a promote climax and a check of the excessive of the prior week huge bear bar.
- It’s extra possible in breakout mode.
- There’s a lower-high double high and a double backside – so merchants are questioning whether or not we’re going up or down.
- Bulls that purchased the reversal and had been upset in July, purchased extra on the promote climax and received out breakeven on Friday.
- Most merchants anticipate to check the MA subsequent week – the center of that inside bar after which determine the place to go.
- If we pull again subsequent week a purchase above the within bar is affordable – a nasty promote.
- Most merchants mustn’t purchase on the MA until you need to use a large cease and scale in.
- The market is shifting shortly by the 50% zone and again to the extremes so most merchants will lose cash within the center.
- If you’re buying and selling the wedge bull flag, anticipate an inexpensive BO and a pullback to get in at a greater worth.
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