BLND.L dominated by bears dragging the market lower throughout the day

British Land (BLND.L) Technical Analysis Report for Jul 13, 2018

Highlights

BLND.L dominated by bears dragging the market lower throughout the day
BLND.L closes higher for the 2nd day in a row
BLND.L closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, BLND.L finished the week -1.17% lower at 656.40 after edging higher £0.40 (0.06%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for BLND.L

Volatility

Friday's trading range was £6.20 (0.94%), that's below last trading month's daily average range of £7.29. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 652.20. Prices are trading close to the key resistance level at 660.20.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 652.20 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for British Land

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