Quote from Nick on 15th January 2025, 11:12 am

Technical analysis for FTSE 100 for 15th January 2025

Inflation figures have just come out while writing this and they aren't as bad as feared, falling slightly last month. The consumer prices index (CPI) dropped to 2.5pc in December, according to the Office for National Statistics (ONS), which was lower than 2.6pc expected by economists. It follows two consecutive rises in the annual rate of inflation in October and December, which has pushed the pace of price rises back above the Bank of England’s 2pc target.

Fears about rising inflation have been behind a surge in government borrowing costs since the start of the year, which has squeezed the headroom left by the Chancellor in her Budget.

Initially today the bulls will be looking to build on the recent strength and the bounces off the 8180 support. Daily pivot is the main support to start with at 8213, and that also links in with the 30m coral support here, which has now gone green again.

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