Possible pull back on supports
Above 6921.83 PTS the FTSE 100 is heading toward 7390.65 PTS over the short term. Below 6921.83 PTS the movement would reverse and then correct toward 6863.23 PTS.
The MACD is negative but is situated above its signal line: the trend is changing. Now, the MACD must clear zero for the rise to continue in the coming days. The main indicator of the movement's strength (RSI) shows that the technical situation is quite healthy, as it is not overbought. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are less than the average volumes over the last 10 days.
MOVEMENTS AND LEVELS
The index is oriented to the downside. It is under its 50-day moving average located at 7434.62. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 7039.04 PTS and the next is at 6921.83 PTS; the resistances, located at 7390.65 PTS and at 7449.25 PTS must be exceeded for the trend to undergo a reversal.