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Bears drive it down but 8225 8172 support for today | 8277 8304 8338 resistance

#1 · 25th September 2024, 10:42 am

Technical analysis for FTSE 100 for 25th September 2024

It was a bit slow but the drop from the 8307 resistance level yesterday played out. Still running the short and trailing the stop for the moment, having just taken a bit more off at 8241. A portion of the gold long is also still running, again trail the stop.

The bears have broken the 8250 support level overnight, and we may well see a retest of the recent support at 8195 today. Having set another record high close the US markets have seen profit taking, and as such sentiment may well be a bit more bearish today. The Raff channels are also now both heading down on the FTSE100 as the bulls have failed to push on past the 8300 level.

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