FTSE 100 Moves Into Uptrend On Weekly

Russell Shor, CFTe, MFTA FXCM

The below is the weekly chart of the UK100. The index has charted a higher trough (HT) followed by a higher peak (HP). This is the classical definition of an uptrend. Moreover, the RSI(9) is above 50 and indicative of an underlying bullish momentum. The index is benefitting from the miners buoyed by higher metal prices with bank stocks also appreciating over a 6-day period.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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