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Bears in control with 8640 8590 support | 8695 8740 resistance | Non Farm Payrolls

Nick@ht-admin
#1 · 7th March 2025, 11:01 am

Technical analysis for FTSE 100 for 7th March 2025

It's safe to say that the bears are in control at the moment as the slide from 8900 continues and the S&P500 looks set to test the 5600 area before any meaningful bounce. The FTSE100 may well put in an initial rise this morning though to test the daily pivot at the 8695 level before some more profit taking and risk off ahead of the weekend. We are just the bottom of the 10d Raff at 8640 as I am writing this so we may well see this act as a spring board to start with.

Of course it's NFP Friday once again so expect a lot of chop today and a possible buy the rumour sell the news pattern once again. The news is out at 1330 and the forecast is a slight uptick from previously, at 159k. Unemployment rate expected to remain at 4%. We also have Powell speaking at 1730, and Trump at 1830 so some volatility to end the week is highly likely!

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Last edited on 7th March 2025, 11:05 am by Nick