mikhem

FTSE 100 Summary for End Week 4 - 2019

TVC:UKX   UK 100 Index
FTSE lacking momentum one way or another

Technically we can see that the FTSE 100 remains negatively biased. The (orange) Chikou Span is well below the price line and has yet to define any significant support or resistance levels, which may not help if any further negative Brexit or other political concerns rear their ugly heads. That said a flattening Kijun Sen (blue) line might indicate the possibility of a more positive move as this can act as a magnet. For a more significant signal the Tenkan Sen (red) line needs to positively cross, which appears to be some way off yet.

Fundamentally the strengthening of the pound at the end of week 4 hasn't helped as most of the FTSE 100 constituents conduct business externally of the UK. And of course week 5 sees further shenanigans regarding Brexit. If the government can actually govern for once and find something positive in the next voting session, this may help and confirm a possible trend change going forward.



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