UK100 short-term analysis – 16 January 2023
The UK100 continues to trade in its daily chart’s bullish area between the upper blue and red bands. The hourly chart on the right also shows bullish developments. Its trend-following EMAs have crossed bullishly, as has its momentum based stochastic indicator (black ellipses). If the stochastic makes its way to the 80+ region (blue arrow), and holds, an underlying positive momentum will be present. This will be price supportive.
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