- Bollinger analysis indicates upper Band® is at 7,529.51
In the midst of a 30 day bullish trend, Today's session might suggest a slow down — the FTSE closed yesterday's trading session sideways – today as trading session starts it is hovering around 7,453.
The index has been trending positively for about a month. The FTSE is now trading 9.18% above the significant low (6,826.2) it slumped to a month ago.
FTSE's upper Bollinger Band® is at 7,529.51, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests the FTSE is positioned for a downward move in the near term.
At the same time, mixed performances are seen elsewhere as having closed the previous session at 33,700, Dow Jones is up 1.18% today to currently trade at around 34,100. S&P 500 improves 1.36% to trade around 4,003.58. ASX 200 is up 0.7%.
Upcoming fundamentals: United Kingdom Composite PMI is expected today at 09:30 UTC.