GB 100 Index Technical Analysis | GB 100 Index Trading: 2020-04-08 | IFCM UAE
IFC Markets Online CFD Broker

GB 100 Index Technical Analysis - GB 100 Index Trading: 2020-04-08

GB 100 Index Technical Analysis Summary

Accelerometer arrow
Strong SellSellNeutralBuyStrong Buy

Above 5840

Buy Stop

Below 4830

Stop Loss

Mary Wild
Senior Analytical Expert
Articles 2058
IndicatorSignal
RSI Buy
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

GB 100 Index Chart Analysis

GB 100 Index Chart Analysis

GB 100 Index Technical Analysis

On the daily timeframe, GB100: D1 breached above the resistance line of the short-term downtrend. Now it is correcting upwards from the minimum since August 2011. A number of indicators of technical analysis formed signals for the further increase. We do not exclude bullish movement if GB100 rises above the last two upper fractals: 5840. This level can be used as an entry point. The first stop loss is possible below the Parabolic signal and the last lower fractal: 5340 or below the last low since August 2011: 4830. After opening a pending order, the stop loss should be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price overcomes the stop loss level (5340 or 4830) without activating the order (5840), it is recommended to delete the order: market sustains internal changes not taken into account.

Fundamental Analysis of Indices - GB 100 Index

Some British macroeconomic data were not as bad as expected. Will GB100 quotes grow?

The Markit UK Manufacturing PMI in March this year unexpectedly turned out to be better than expected and amounted to 47.8 points. Thus, its decrease was not so significant compared with February data (48 points), despite the spread of coronavirus. In March, the Bank of England increased its asset buyback program, and in particular corporate bonds, by £ 200 billion to £ 645 billion a year. These funds will be used to reduce the debt burden of companies and support the British economy. In addition, the Bank of England lowered the rate to 0.1%. Starting April 15, at this rate, businesses and households crediting will begin as part of the economic assistance program. On April 9, Britain will publish data for February: GDP, trade balance, industrial production and others. If they turn out to be positive, this may support GB100 quotations.

IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger