| 
June 22, 2023- The FTSE's resistance level is at 7,677.74.
- The lower Bollinger Band® is currently at 7,465 while the higher band is at 7,970.29
The FTSE slides down from 7,569.31 to 7,559.18, losing 10.13 points (0.13%) today.
The index has been trending lower for about 2 months. Over the past 4 months, the FTSE has retreated 5.53% from a noteworthy peak of 8,012.53.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that the FTSE's upper Bollinger Band® is at 7,970.29 and the lower is 7,465. Chart analysis suggests the FTSE's nearest resistance level is now at 7,677.74.
The current technical outlook indicates the FTSE will continue to ebb sideways within tight ranges for the immediate future.
Fundamental indicators – United Kingdom Consumer Price Index released yesterday at 06:00 UTC with a figure of 8.7%, while the previous figure was 8.7%.
While the FTSE was pretty flat yesterday, mixed performances were seen elsewhere as Hang Seng drops 1.98% yesterday and closed at 19,600. Nasdaq slips 1.21% yesterday and closed at 13,667. S&P 500 stumbles 0.52% yesterday and closed at 4,388.71.
Upcoming fundamentals: United Kingdom BoE Interest Rate Decision (Jun) is expected today at 11:00 UTC.
