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Bearish overtones but 8160 8118 support | 8200 8230 8262 resistance | Mixed Chinese news

#1 · 17th June 2024, 10:40 am

Technical analysis for FTSE 100 for 15th June 2024

Friday saw the dip and rise play out, with the bulls defending the 8120 area and we have managed to retest the 8200 level. That has acted as resistance so far but the 30m chart is now looking more optimistic for a bull Monday, at least to start with. We may well get a rise and dip play out today.

Initial support is at the daily pivot and the green 30m coral at the 8160 area, and the bulls will be keen to defend this. If they manage to do so then we may well get a rise towards the 8240 area.

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