On the hourly basis, the price is finding its support on 20 periods Exponential Moving Average.
UK’s top index emerged from its sideways trading channel in the beginning of January. This week the stocks seemed to pull down a bit when we are going to experience a test of a new support that is depicted by top wide red line.
From a closer look, it is obvious the price almost hit the support. Let’s wait whether it can break through the recent resistance level built last week.