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Bulls defending despite war escalation | 7645 7686 7735 resistance | 7595 7570 support

#1 · 5th February 2024, 11:18 am

Technical analysis for FTSE 100 for 5th February 2024

The bulls will be keen to retrace some or all of Fridays fall today though initially we have resistance at the daily pivot at 7640. With the 30m red coral here also, we may see any early rise falter here and then a drop down to the 7595 S1 level.

It feels like we may well get a dip and rise day though with a bit of bull Monday creeping in later on as the dip gets bought up. They will be keen to defend the 7600 level but I think an overshoot down to the S2 area any 7564 is quite likely. 7585 is also the key fib for today, while 7570 is also the first of the daily supports in play for this week.