Research update

A running archive of FTSE (FTSE 100) views from Tactical Positioning.

FTSEFTSE (FTSE 100) backtested the trendline and was rejected.

FTSEFTSE (FTSE 100) reclaimed the major trendline and now sits around the horizontal resistance near 10.5K. If it fails here, we would likely see a retest, if not a break, of the major trendline. If it manages to break above and hold the 10.5K level for a few days, we would likely see it move higher.

FTSEFTSE (FTSE 100) reversed from its downtrend resistance line. The triangle is coming to an end, so resolution is imminent. A sustained close above resistance would put bulls back in control, while a break below triangle support would lead to more downside.

FTSEFTSE (FTSE 100) must reclaim 10.4K to see more upside. If it fails to do so, the structure remains vulnerable and risks heading lower.

FTSEFTSE (FTSE 100) failed around 10.47K again and slipped back below the compression zone.

Bulls need to reclaim 10.47K and hold above the downtrend line. If it fails and loses the rising support, the structure turns vulnerable again and opens the door to another leg lower.

FTSEFTSE (FTSE 100) is pinned around 10.47K, where horizontal resistance, the old downtrend, and the rising support structure are all converging. A sustained close above 10.47K puts bulls back in control. A failure here, especially with a break back below the rising support, turns this into another failed breakout and opens the door lower.

FTSEAs long as FTSE (FTSE 100) stays above the rising trendline, the path of least resistance remains higher. A sustained break back below that line would put the breakout at risk and open the door to a retest of 10,474.

FTSEFTSE extended last week's breakout to 10.7K, then pulled back into the ascending trendline and bounced from there.

As long as FTSE holds above the ascending trendline, the path of least resistance remains higher. The prior high around 10.7K is the first resistance. A sustained close above it opens the door to the March high around 10.9K. A confirmed break below the ascending trendline would open the door to more downside.