FTSE closes higher for the 2nd day in a row

FTSE 100 Index (FTSE) Technical Analysis Report for May 22, 2018 | by Techniquant Editorial Team


FTSE closes higher for the 2nd day in a row
FTSE pushes through previous session high
FTSE rises to highest close since Inception


Moving higher for the 2nd day in a row, FTSE ended Tuesday at 7877.45 gaining £18.25 (0.23%). Today's closing price of 7877.45 marks the highest close since Inception. Closing above Monday's high at 7868.10, the index confirms its breakout through the prior session's high having traded £35.40 above it intraday.

Daily Candlestick Chart (FTSE as at May 22, 2018):

Daily technical analysis candlestick chart for FTSE 100 Index (FTSE) as at May 22, 2018

Tuesday's trading range was £48.92 (0.62%), that's below last trading month's daily average range of £60.13. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With five out of the other five Major European Indices closing higher today, the ones that stand out on the positive side are DAX gaining 0.71% and TECDAX closing 0.44% higher. None of the markets ended the day in the red. Read more

Market Conditions for FTSE as at May 22, 2018

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