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8240 holds so far | 8216 8206 below | 8291 8329 8340 resistance

#1 · 21st August 2024, 10:10 am

Technical analysis for FTSE 100 for 21st August 2024

Bear Tuesday played out well yesterday and now focus moves to the PMI data and Fed chair Powell's speech at the Jackson Hole symposium. The various 2h charts are bearish as you would expect after yesterdays declines, and the FTSE100 bulls will need to break the 8320 level now to regain the upper hand.

8340 is also the 2h red coral line so a couple of resistance levels that look quite key to start with. I wouldn't be surprised to see a rise today though and the price to get back above the 8300 level this morning. Sill buy the dip for the moment, but keep an eye on those resistance levels.

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