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UK100 Buyers Ready For a New Breakout? | Indices

Published: 26.09.2023
by Joseph Jeffriess

Today’s focus: UK100 Index

Pattern – Continuation Pattern
Support – 7629 – 7588
Resistance – 7720, 7916

Today, we summarise the progress of the UK100 Index, breaking down its overall price picture, levels, and patterns and incorporating the Moving Average and RSI into the analysis.

The primary focus of today’s look at the UK100 Index is the current uptrend, forming a new higher low in today’s session. This continues to push the case for a new leg high from buyers. Resistance at 7720 is the first big test, and if we can see a new move up, this level needs to be cleared to break the current range.

If today’s fightback from 7629 support fails, we could see a move that may try to retest the range base. We will be watching Price and mainly Buyers over the next several sessions to see if we get a breakout.

For insight on the UK100 via Tradingview, visit the UK100 chart.

Thanks for joining us, and good trading.

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