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Bear Tuesday with 8218 8120 support | 8290 82325 resistance

#1 · 8th October 2024, 9:40 am

Technical analysis for FTSE 100 for 8th October 2024

We got the dip rise dip yesterday but the bears were a bit stronger and took it as low as 8260 before it climbed back. In a continuation of the bearishness we may well see a drop down to the 8220 level today if a bit of a bear Tuesday plays out. That level looks fairly key if the 8250 support one breaks, as we have the S2 here, along with daily support. It is also just below the rising 10d Raff channel bottom.

Below 8220 and the bears will be looking to really capitalise as the next key daily support is 8120, though we have 8180 for S3 and the bottom of the 20d Raff channel. A long here at 8180 is probably worth a go with a tight stop if seen.

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