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Bull Monday with 8260 8290 8341 resistance | 8200 8180 support

#1 · 24th June 2024, 9:45 am

Technical analysis for FTSE 100 for 24th June 2024

Off we go for another week and the election looming closer and closer. Markets are standing up well so far as the climb from 8120 continue to play out. The 10d Raff channel is still heading up though the bulls will be wanting to pull away from the 8200 level this week.

Initially today we have resistance at the 8254 level with the Hull MA here, and just above the daily pivot and red 30m coral at 8230. As such, we may see an early rise (and continuation of the overnight bounce) falter here for a drop back to test the 8190 key support area. This held well on Friday with the spike down on option expiry and as such will now set up a decent double bottom.

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