{"id":6425,"date":"2021-04-12T08:05:00","date_gmt":"2021-04-12T07:05:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=6425"},"modified":"2021-04-12T16:14:05","modified_gmt":"2021-04-12T15:14:05","slug":"ftse-100-technical-analysis-7000-now-a-formality","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/ftse-100-technical-analysis-7000-now-a-formality\/","title":{"rendered":"FTSE 100 Technical Analysis &#8211; 7,000 Now A Formality"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6425\" class=\"elementor elementor-6425\" 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-b22c113 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b22c113\" 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-9e596e7\" data-id=\"9e596e7\" 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-8445195 elementor-widget elementor-widget-text-editor\" data-id=\"8445195\" 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\/3rUP6gH\" target=\"_blank\" rel=\"noopener\">UK 100<\/a> traded to its highest level since the start of the COVID-19 pandemic last week, as blue-chip companies led the gainers in the leading UK index, and by all intents and purposes had their best weekly performance since January this year.<\/p><p>The FTSE250 also hit a new all-time high last week, as Page hiring posted strong results which showed that the UK jobs markets was starting to heat up. Job hiring companies, often referred to as \u201crecruiters\u201d provide a strong indication of current and future trends in the jobs market.<\/p><p>UK stock reacted as an increase in hiring was seen as a clear indication that the economy is at a turning pointing. Additionally, a number of COVID-19 restrictions are being eased this week, which could give the UK economy a further shot in the arm, as the UK economy returns to a form of normality.<\/p><p>Last week the United Kingdom construction PMI hit its highest level since 2014 last week, which further underscored the bullish shift underway in the UK economy, and also complimented the decade high UK manufacturing PMI which was released just a week earlier.<\/p><p>We should also factor in that the <a href=\"https:\/\/bit.ly\/3cGTARE\" target=\"_blank\" rel=\"noopener\">S&amp;P 500<\/a>, <a href=\"https:\/\/bit.ly\/2Ot56Ix\" target=\"_blank\" rel=\"noopener\">DJIA<\/a>, and the <a href=\"https:\/\/bit.ly\/3rOvnzg\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a> are entering price discovery and reaching new all-time highs. It is therefore no wonder that the FTSE100 is rallying if we consider the close economic ties that the United Kingdom and the United States share.<\/p><p>To top it all off, sterling also hit a multi-month low last week. It is worth remembering that the UK100 and sterling often a share an inverse relationship, hence this was another bullish factor underpinning strength in the FTSE100 last week.<\/p><p>On the technical front, a multi-month low in the ATR indicator last week indicated that a breakout was on the horizon, now it appears that the 7,000-resistance level is merely a formality on the road towards the index\u2019s all-time high.<\/p><p><strong>FTSE100 Sentiment Analysis<\/strong><\/p><p>The Market Sentiment indicator on the ActivTrader platform currently shows that a sentiment shift is starting. 57 percent of traders are bearish towards the index, which is a big change from the start of last week, when 69 percent of traders were bullish towards the FTSE100 right now.<\/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-8155609 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8155609\" 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-a986c09\" data-id=\"a986c09\" 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-83e6ed5 elementor-widget elementor-widget-image\" data-id=\"83e6ed5\" 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\t<a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"296\" height=\"112\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/uk100-chart.png\" class=\"attachment-large size-large wp-image-6428\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-d67c874 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d67c874\" 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-836135a\" data-id=\"836135a\" 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-8725d3a elementor-widget elementor-widget-text-editor\" data-id=\"8725d3a\" 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 current sentiment of traders suggests further gains are likely, especially if we consider that traders are turning more bearish while the index start to break to the upside.<\/p><p><strong>FTSE100 Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the FTSE100 has formed a large inverted head and shoulders pattern after reaching the Jnauary 2021 high, around the 6,965 resistane level.<\/p><p>According to the overall size of the bullish price pattern, a move above the 6,965 resistance level could send the UK100 towards the 7,500 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-158b68b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"158b68b\" 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-1d1eb65\" data-id=\"1d1eb65\" 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-7d7818e elementor-widget elementor-widget-image\" data-id=\"7d7818e\" 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\t<a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"345\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/uk100-4h.png\" class=\"attachment-large size-large wp-image-6429\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-32223ba elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"32223ba\" 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-a15ff37\" data-id=\"a15ff37\" 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-e6ddb6e elementor-widget elementor-widget-text-editor\" data-id=\"e6ddb6e\" 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><a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\" rel=\"noopener\">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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33739f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33739f5\" 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-d7d5518\" data-id=\"d7d5518\" 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-4631a74 elementor-widget elementor-widget-text-editor\" data-id=\"4631a74\" 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>Higher time frame analysis shows that an extremely large head and shoulders pattern has been invalidated following the recent move above the 6,960 resistance level, which is the head of the bearish pattern.<\/p><p>Now that the bearish pattern has been invalidated a rally of close to 800 points in the UK100 should be expected, which chould take the index towards the 7,700 resistance level over the medium to long-term.<\/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-7db0500 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7db0500\" 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-9764167\" data-id=\"9764167\" 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-6b5324d elementor-widget elementor-widget-image\" data-id=\"6b5324d\" 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\t<a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"344\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/uk100-1d.png\" class=\"attachment-large size-large wp-image-6430\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-3a1bdaf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a1bdaf\" 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-6dff045\" data-id=\"6dff045\" 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-d73d050 elementor-widget elementor-widget-text-editor\" data-id=\"d73d050\" 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><a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\" rel=\"noopener\">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":"<p>The UK 100 traded to its highest level since the start of the COVID-19 pandemic last week, as blue-chip companies led the gainers in the leading UK index, and by all intents and purposes had their best weekly performance since January this year. The FTSE250 also hit a new all-time high last week, as Page [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[57,370,243],"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>FTSE 100 Technical Analysis - 7,000 Now A Formality - 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\/ftse-100-technical-analysis-7000-now-a-formality\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTSE 100 Technical Analysis - 7,000 Now A Formality\" \/>\n<meta property=\"og:description\" content=\"The UK 100 traded to its highest level since the start of the COVID-19 pandemic last week, as blue-chip companies led the gainers in the leading UK index, and by all intents and purposes had their best weekly performance since January this year. The FTSE250 also hit a new all-time high last week, as Page [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/ftse-100-technical-analysis-7000-now-a-formality\/\" \/>\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=\"2021-04-12T07:05:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-12T15:14:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/GettyImages-682501462.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"477\" \/>\n\t<meta property=\"og:image:height\" content=\"221\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/ftse-100-technical-analysis-7000-now-a-formality\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/ftse-100-technical-analysis-7000-now-a-formality\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"FTSE 100 Technical Analysis &#8211; 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