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Bull Monday to start | 8250 8314 resistance | 8190 8146 8120 support

#1 · 9th September 2024, 11:12 am

Technical analysis for FTSE 100 for 9th September 2024

Early signs infer a bullish Monday yet again after the ASX200 put in a decent bullish shift. That said the bulls need to break the daily 25ema which is now locked in as resistance at the 8268 level, with the 8320 area above that. They will be keen to test and ideally break 8300, having defended the 8160 level on Friday.

8120 remains lower support below that though and a level that should see a bounce if tested. That said, for today I am looking at the 8190 area to hold as support to start with if we get an opening drop, as we have the daily pivot and 30m coral here. Whilst the latter is still red following Fridays decline, it feels like it may well change to green this morning. The 2h chart is also on the cusp of going bullish and the Hull MA is at 8180, so could lend support here as well.

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