{"id":2517,"date":"2021-01-14T09:30:47","date_gmt":"2021-01-14T09:30:47","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=2517"},"modified":"2021-01-14T11:45:56","modified_gmt":"2021-01-14T11:45:56","slug":"ftse100-technical-analysis-weekly-trendline-back-in-focus","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/ftse100-technical-analysis-weekly-trendline-back-in-focus\/","title":{"rendered":"FTSE100 Technical Analysis &#8211; Weekly trendline back in focus"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2517\" class=\"elementor elementor-2517\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2b32d83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2b32d83\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e041a7\" data-id=\"9e041a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2402272 elementor-widget elementor-widget-text-editor\" data-id=\"2402272\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"https:\/\/bit.ly\/3ra7ySw\" target=\"_blank\" rel=\"noopener\">FTSE100<\/a> is staging a welcome technical correction to the downside as ongoing strength in the British pound currency started to weigh on a number of key stocks inside the widely traded UK index.<\/p><p>Last week the FTSE100 rallied within touching distance of the 7,000-resistance level, hitting 6,963, and racking up the auspicious title of becoming the best performing index in Europe so far this year.<\/p><p>The United Kingdom is currently the worst affect nation in Europe in terms of COVID-19 infections, and businesses in the UK are being heavily hit by the latest lockdown, which is expected to stay in place until April.<\/p><p>This week, things have changed, the FTSE100 is now the worst performing index on the week. Even the <a href=\"https:\/\/bit.ly\/3aTacGO\" target=\"_blank\" rel=\"noopener\">ITA40<\/a> is performing better than the FTSE100, even as Italian bond yields rise due to internal political instability.<\/p><p>It is also noteworthy that <a href=\"https:\/\/bit.ly\/2MTjGaT\" target=\"_blank\" rel=\"noopener\">AstraZeneca<\/a> and <a href=\"https:\/\/bit.ly\/3nC7A3G\" target=\"_blank\" rel=\"noopener\">GlaxoSmithKline<\/a> have been weighed down this week, while the pace of gains in <a href=\"https:\/\/bit.ly\/2KsvkJ3\" target=\"_blank\" rel=\"noopener\">oil<\/a> heavyweights such as <a href=\"https:\/\/bit.ly\/2Qy5FOX\" target=\"_blank\" rel=\"noopener\">Royal Dutch Shell<\/a> and <a href=\"https:\/\/bit.ly\/2Sr8fHw\" target=\"_blank\" rel=\"noopener\">BP<\/a> has lessened since last week.<\/p><p>Dip-buyers may have gone the pullback that they have been waiting for as the FTSE100 could be preparing to stage a much rally if incoming President Joe Biden announces a huge stimulus package as widely expected later today.<\/p><p>The recent correction has so far found strong support from a key long-term trendline, which needs to be defended to keep the ongoing move higher on course for an eventual breakout above 7,000.<\/p><p>Overall, the technical still look good for the FTSE100 while price holds above the key trendline, however, traders remain cautious as <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">sterling<\/a> continues to hold well-above the 1.3600 handle.<\/p><p><strong>FTSE100 Short-term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that that the index is currently trading within a bullish flag pattern between the 6,850 and 6,690 levels.<\/p><p>According to technical analysis, the mentioned bullish pattern has a upside projection of around 140 points, which could take the FTSE100 towards the 7,000 level.<\/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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-89e49b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"89e49b4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-354f96f\" data-id=\"354f96f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26a4393 elementor-widget elementor-widget-image\" data-id=\"26a4393\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"306\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/UK100-1H.png\" class=\"attachment-large size-large wp-image-2520\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7647165 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7647165\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e0b7eef\" data-id=\"e0b7eef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6ff68a elementor-widget elementor-widget-text-editor\" data-id=\"c6ff68a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ac6ef8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ac6ef8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f18c12a\" data-id=\"f18c12a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e8e880c elementor-widget elementor-widget-text-editor\" data-id=\"e8e880c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>With this in mind, watch out for further short-term weakness towards 6,690 level before a counter-rally above the 6,850 levels takes hold, a breakout above the 7,000 level could spark a rally towards the 7,110 area.<\/p><p><strong>FTSE100 Medium-term Technical Analysis<\/strong><\/p><p>The daily and weekly time frames currently show that the price is approaching major trendline resistance, around the 6,700 level.<\/p><p>To give traders some context, the FTSE100 collapsed by around 1,500 points after breaking the trendline last March and staged a huge rally last week after breaking back above the trendline.<\/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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e262ad3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e262ad3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a9563fa\" data-id=\"a9563fa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9318ddb elementor-widget elementor-widget-image\" data-id=\"9318ddb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"306\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/UK100-1W-1.png\" class=\"attachment-large size-large wp-image-2521\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9de31ff elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9de31ff\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d24511d\" data-id=\"d24511d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d70a7d3 elementor-widget elementor-widget-text-editor\" data-id=\"d70a7d3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c14c5f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c14c5f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b9482bd\" data-id=\"b9482bd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e031a5 elementor-widget elementor-widget-text-editor\" data-id=\"4e031a5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>With this in mind, traders should watch the key trendline in question carefully, as the FTSE100 may bounce back to new highs above the 7,000 level if the trendline is defended or collapse to the downside if broken.<\/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":"<p>The FTSE100 is staging a welcome technical correction to the downside as ongoing strength in the British pound currency started to weigh on a number of key stocks inside the widely traded UK index. Last week the FTSE100 rallied within touching distance of the 7,000-resistance level, hitting 6,963, and racking up the auspicious title of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":2518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8,6,9,2],"tags":[197,179,45,64,153,57,20,198,107,79],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FTSE100 Technical Analysis - Weekly trendline back in focus - 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\/ftse100-technical-analysis-weekly-trendline-back-in-focus\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTSE100 Technical Analysis - Weekly trendline back in focus\" \/>\n<meta property=\"og:description\" content=\"The FTSE100 is staging a welcome technical correction to the downside as ongoing strength in the British pound currency started to weigh on a number of key stocks inside the widely traded UK index. Last week the FTSE100 rallied within touching distance of the 7,000-resistance level, hitting 6,963, and racking up the auspicious title of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/ftse100-technical-analysis-weekly-trendline-back-in-focus\/\" \/>\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=\"2021-01-14T09:30:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-14T11:45:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/01\/GettyImages-1196087005.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"279\" \/>\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:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/ftse100-technical-analysis-weekly-trendline-back-in-focus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/ftse100-technical-analysis-weekly-trendline-back-in-focus\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"FTSE100 Technical Analysis &#8211; 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