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.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.