News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • WTI crude oil prices fell on Monday after signs showing that OPEC+ members may not reach an agreement to rein production in a Monday meeting. WTI has registered a whopping 36% gain this month through to November 25th, entering overbought territory according to the RSI indicator. https://t.co/UYde6fioQg
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lXacDkdsla
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.91%, while traders in EUR/USD are at opposite extremes with 76.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Fcv9uguJsP
  • #Gold prices challenging key support at the 50% Fib (1763.27) as the RSI registers its most extreme oversold readings since 2018. Gut-check time for #bullion bulls... #XAUUSD https://t.co/H6EU8mN1sW
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.22% 🇬🇧GBP: 0.19% 🇨🇭CHF: 0.13% 🇪🇺EUR: 0.05% 🇦🇺AUD: 0.01% 🇨🇦CAD: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eIxfGpBn51
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.54% US 500: -0.72% Germany 30: -0.79% France 40: -0.79% Wall Street: -0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kHZ9KNcOvx
  • 🇯🇵 Housing Starts YoY (OCT) Actual: -8.3% Expected: -9.3% Previous: -9.9% https://www.dailyfx.com/economic-calendar#2020-11-30
  • Heads Up:🇯🇵 Housing Starts YoY (OCT) due at 05:00 GMT (15min) Expected: -9.3% Previous: -9.9% https://www.dailyfx.com/economic-calendar#2020-11-30
  • Learn why dividend stocks are favored by investors and why it might be the right choice for you here:https://t.co/VUsJFHBARb https://t.co/Brit0AFo8e
  • China National Offshore Oil Corp (CNOOC) plunged nearly 10% in Hong Kong on Monday after Trump Administration put it onto export blacklist alongside several other Chinese firms.
FTSE 100: Persistent Rise Impressive, but Dip Risk Growing

FTSE 100: Persistent Rise Impressive, but Dip Risk Growing

2017-01-05 08:57:00
Paul Robinson, Strategist
Share:

What’s inside:

  • The FTSE 100 continues its persistent rise into record territory
  • Risk/reward not great for new longs, but shorting isn’t viewed as a great option either
  • Pullback/consolidation phase will do the market some good

For trader education, check out our Trading Guides.

The FTSE 100 continues to walk itself further into record territory after recently breaking out above the April 2015 all-time closing high and October 2016 intraday high. The trend since the 12/2 low has been extremely persistent, with the FTSE having risen 17 out of the last 20 sessions. The only real opportunities to enter the market from the long-side have come on shallow intra-day declines.

As far resistance goes, there are obviously no price levels to reference when in record territory. But with that said, we can look to sloping lines as potential forms of resistance. One we have our eyes on with further strength, is the trend-line running higher off October 2015 peaks over the October 2016 high; this line lies in the area of 7280/300.

The continuous rise with no pullback does present an increasingly risky proposition for those looking to establish new longs, but doesn’t hold anything good from a risk/reward perspective for shorts, either. The market looks like it could be nearing a point where a shallow decline or consolidation phase take hold, but should find support initially on a decline into the 7130/04 zone, the prior intraday and closing record highs. As long as price action remains constructive – shallow pullbacks/consolidations – we will continue to view the FTSE as a buyer’s market. To flip the script on the bulls we will need an aggressive reversal event and downside levels broken before sharpening our knives from the short-side.

FTSE 100: Daily

FTSE 100: Persistent Rise Impressive, but Dip Risk Growing

Created with Tradingview

Each week we hold live events covering a range of topics and markets, see our Webinar Calendar for details.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES