FTSE 100 โ 4H | Watching for a bullish moveFTSE 100 is sitting around 10 6xx - 10,70x and, for me, this is an interesting area to watch.
Price has been moving inside the descending structure for some time, but the latest reaction from the 10,540โ10,650 area is worth paying attention to.
This zone lines up with previous support and the lower part of the structure, so Iโm watching to see whether buyers can actually regain control from here.
The first level I want to see reclaimed is 10,729. If price manages to hold above it, I think the next important area is around 10,940โ11,015. A clean break through that zone could open the way toward 11,209, then 11,444, with 11,609 being the larger target shown on the chart.
Iโm not expecting price to move straight up. There could easily be some pullbacks along the way, especially around 10,940 and 11,015.
On the downside, 10,540โ10,600 is the area I don't want to see lost. A decisive 4H break below 10,395 would invalidate this bullish setup for me.
So, for now, I'm looking for confirmation rather than chasing the move:
10,540โ10,650 โ 10,729 โ 10,940/11,015 โ 11,209 โ 11,444 โ 11,609
Let's see how price reacts at each level.
#FTSE100 #UK100 #Trading #TechnicalAnalysis
Long
