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Back from holiday | dip rise dip today | 8211 8150 support | 8240 8290 resistance

#1 · 13th August 2024, 9:53 am

Technical analysis for FTSE 100 for 13th August 2024

Fairly flat bull Monday yesterday as it catches its breath after the recent dip and rise while I have been away - why does it always do that when I leave it unattended for a week or 2!?! 🙂

Initial support today is at the daily pivot at the 8211 level and the bulls will be keen to try and keep the price above the 8200 level again, as a break below that will likely lead to a test of the 8160 area where we have S2 and the key fib.

We also have the 8175 level as the 30m 200ema and with a bullish 2h chart (supports on that timeframe at the 8210 and 8150) we may well see any initial dips defended. As such a dip, rise, dip may well play to as some bear Tuesday sentiment kicks in later on.

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