Discussion Forum for trading analysis, help, signals and learning how to trade. Chat with other traders , post analysis, trades and ask questions. This is the public part of my website. For more in-depth discussions please consider joining to chat with other members

ForumTrading Forum with market discussion and live trades: Market DiscussionBears have the momentum | 7662 77 …

Please or Register to create posts and topics.

Bears have the momentum | 7662 7700 7719 resistance | 7621 7597 support

#1 · 7th March 2024, 9:59 am

Technical analysis for FTSE 100 for 7th March 2024

Today looks like a dip and rise may well play out and we have the ECB rate decision at 1315 - expected to stay at 4.5%. The press conference at 1345 may well give clues on what they are thinking, while we have the Fed's Powell testimony at 1500. Again, traders will be looking for rate cut guidance.

So assuming we get the dip and rise, initial resistance is at the daily pivot at the 7662 level and a drop down to the 7596 S2 level, and also the recent low may well play out.