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8100 seen with bulls in control | 8057 8035 support | 8118 8155 resistance

#1 · 24th April 2024, 9:04 am

Technical analysis for FTSE 100 for 24th April 2024

The climb from the 8020 level from yesterday is still playing out well and I have just taken some more profit off at 8100. Overnight we have hit the 8120 level and dropped back but once again the bulls will be keen to build on this today. However 8120 is likely to see a drop off if it gets tested again as we have R2 here also, and 8113 is the key fib for today. As such a profit taking point here, with a subsequent drop down to the daily pivot at the 8057 level would make sense.

Above the 8120 level then 8155 is in play as R3 here, and also ties in with the top of the 20d Raff channel. As such, we may see this cap proceedings for today and a decent 400 point bounce from the war worry driven low at 7750....

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