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0.25% interest rate cut | dip and rise | 8570 8560 8534 support | 8620 8653 resistance

#1 · 8th May 2025, 9:50 am

Technical analysis for FTSE 100 for 8th May 2025

A decent bounce yesterday off the 8540 support level and overnight the bulls have managed to crack the 8600 level. However we are sat at decent resistance first thing at the 8614 R1 levels, and we also have the red 2h coral here. As such I am expecting an initial drop down from here, probably to test the daily pivot level at 8573.

Along with the pivot we also have a cluster of other supports, namely the 200ema on the 30m, and also the 30m coral (green). As such I would like to see this level hold and set up a higher low from yesterday which bodes well for the bulls to push it up today.

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