{"id":23013,"date":"2022-02-28T06:59:00","date_gmt":"2022-02-28T06:59:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=23013"},"modified":"2022-03-01T13:20:21","modified_gmt":"2022-03-01T13:20:21","slug":"uk100-technical-analysis-one-more-drop","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/uk100-technical-analysis-one-more-drop\/","title":{"rendered":"UK100 Technical Analysis – One More Drop?"},"content":{"rendered":"\t\t
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The FTSE 100<\/a> has recovered sharply higher after dropping towards the 7,200 level earlier this week, which marked a 500-point drop from the highs of the year for the index.<\/p>

Last week\u2019s drop marked a new 2022 trading low for the index; however, dip buying has been very strong, which is not surprising given the relentless bid-tone that the index has seen for much of the year.<\/p>

Looking at the price charts a large hammer candle is present after last week\u2019s big price reversal, although I am not entirely convinced that the low is in for the index and would preference a final dip.<\/p>

Many clues exist that the FTSE100 could stage another surprising drop, such as a key rising trendline that remains untested, alongside a large head and shoulders pattern that has yet to play out.<\/p>

The UK100 is rich with commodity-related and mining companies, so it is somewhat protected when blue-chips plunge, given that commodity and gold prices are rising.<\/p>

I expect that the 7,500 level will act as a major trading pivot, and even though the trend is still bullish, I preference that the UK100 will see 7,000 before it tests 7,700 once again.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Sentiment towards the UK100 is starting to neutralize. According to the ActivTrader platform over 53 percent of traders are bearish towards the UK100. This is a sign of more range bound trading ahead.<\/p>

UK100 Short-Term Technical Analysis<\/strong><\/p>

The four-hour time frame shows that another potential breakout is coming, due to the presence of a large head and shoulders pattern, which holds significant downside potential.<\/p>

The prospect of buy a dip in the FTSE100 around the 7,000 level is highly probably, and it could be a major dip buying opportunity for UK stock bulls.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes\u00a0<\/a>provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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UK100 Medium-Term Technical Analysis<\/strong><\/p>

The daily time frame shows that the FTSE100 is trading inside a massive rising price channel between the 7,000 and 8,500 price level.<\/p>

It should be noted that dip-buyers are likely to be stacked around the 7,000 level in expectation of a major bounce back towards the top of the price channel.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The FTSE 100 has recovered sharply higher after dropping towards the 7,200 level earlier this week, which marked a 500-point drop from the highs of the year for the index. Last week\u2019s drop marked a new 2022 trading low for the index; however, dip buying has been very strong, which is not surprising given the […]<\/p>\n","protected":false},"author":4,"featured_media":9835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[57],"yoast_head":"\nUK100 Technical Analysis - One More Drop? - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/uk100-technical-analysis-one-more-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK100 Technical Analysis - One More Drop? UK100 Technical Analysis - One More Drop?\" \/>\n<meta property=\"og:description\" content=\"The FTSE 100 has recovered sharply higher after dropping towards the 7,200 level earlier this week, which marked a 500-point drop from the highs of the year for the index.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/uk100-technical-analysis-one-more-drop\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-28T06:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-01T13:20:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/GettyImages-1148407620.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"525\" \/>\n\t<meta property=\"og:image:height\" content=\"313\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UK100 Technical Analysis - One More Drop? 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