Skip to Content
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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
FTSE 100 Technical Outlook – Consolidating for a Run at Best Levels Since March

FTSE 100 Technical Outlook – Consolidating for a Run at Best Levels Since March

Paul Robinson,
What's on this page

FTSE Technical Highlights:

  • FTSE consolidating recent gains quite well
  • Poised to run to best levels since March
  • 2018 low/June high lie just ahead

The FTSE 100 has been consolidating its big run from the first half of the month, looking poised to add to those gains in the sessions ahead. The base isn’t the biggest given the extent of the run, but nevertheless it is a bullish development that should bring an important test of resistance into play.

The 6530-area could prove to be a formidable spot for the FTSE to break on through. The June high was carved out just ahead of the 2018 low, when stocks bottomed at the very end of that year following a big swoon. We also saw a very short-term bounce in March develop from this same area. Indeed, the 6530 area is a spot to watch.

How price action plays out at that juncture, assuming it reaches it, will be important for the near-term at the least. If a break into resistance results in a rejection, then perhaps we will see a larger retracement unfold.

A break on through to the other side doesn’t necessarily mean momentum will pick up, but it will have higher levels in focus as material resistance isn’t readily found until near the 7k mark where a couple of lows formed last year.

All-in-all, the FTSE appears ready to rise some more, but how it responds to a big longer-term test will be important to pay attention to. Shorts don’t much appeal at this time; however, a turn from around resistance could provide a decent risk/reward set-up for would-be sellers.

Equities Forecast
Equities Forecast
Recommended by Paul Robinson
Check out the Q4 Equities Forecast
Get My Guide

FTSE Daily Chart (short-term consolidation)

ftse 100 daily chart

UK 100 Index Chart by Tradingview

Tools for Forex Traders

Whether you are a beginning or experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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