The FTSE 100 index is trading near its 20 day moving average on a 4 hour time frame. The price is also trading within the Bollinger band and this confirms that the volatility for the index is low. In terms of trend, the price is still trading below the downward trend line and as we trade below this downward trend line- by definition of tend line, the bias remains towards the downside. We have also formed a symmetrical triangle pattern which is something one needs to mind full of and they usually break towards the upside.
The RSI and the MACD indicators are trading near enough the over bought zone but still trading inline with price action which means that the bias is still towards the upside in terms of momentum but it is important to pay attention towards the over bought zone readings.