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Bullish fatigue | Might dip a bit today | 7683 7650 support | 7718 7726 7750 resistance

#1 · 26th February 2024, 11:00 am

Technical analysis for FTSE 100 for 26th February 2024

The 7720 area remains the line in the sand for the moment that the bulls will need to break as that opens up the 7750 level above. 7726 is now R1 for today. To start with the 2h chart is bullish and has support at the 7692 level so should we see a break of this then a drop down to the 7650 level looks quite likely.

The shorter time frames, 30m and so on, are bearish to start with after the Asian markets dropped back a bit. We may well see a bull Monday be a bit tempered today, and some profit taking and shorting the rallies. There is also quite a lot of data this week which could also lead to some profit taking.