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Bear Tuesday with 8136 8105 8046 support | 8200 8247 resistance

#1 · 16th July 2024, 10:17 am

Technical analysis for FTSE 100 for 16th July 2024

We look set for a bear Tuesday and a possible test of the 8105 support area which may well see a bounce. The 2h chart is negative for today following the weakness yesterday (distinct lack of a bull Monday for the FTSE100!) and has key resistance to start with today at the 8223 area, with both the Hull MA and coral here.

We are also getting close to a test of the bottom of the 10d Raff channel at 8123. That channel is rising and it will be the first test since it did turn so we should in theory see some support around this area. Initially we also have the S1 and key fib at 8136 which of course the bears will be keen to break.

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