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Bull Monday if 7735 can be defended | 7714 below | 7786 7809 resistance

#1 · 18th March 2024, 10:26 am

Technical analysis for FTSE 100 for 18th March 2024

Friday saw the rise and dip play out, and we may well be on for a bull Monday if the bulls can be quick out the blocks. We are just sat on a cluster of supports to start with, as we have the daily pivot, 30m 200ema, 30m coral all at the 7740 level. If we can spring off this then a rise towards the 7786 R2 level should play out this morning, and ultimately the bulls will be aiming for the 7800 round number again.

Slightly higher up and in play also as resistance is the 7809 R3 level and also the top of the 20d Raff channel here. If we see this then a drop from here would also make sense.