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Bulls need to break 8450 | 8484 above | 8400 support

#1 · 13th May 2024, 9:29 am

Technical analysis for FTSE 100 for 13th May 2024

Having ended the week strongly the FTSE100 is starting above the 8400 level and may well push for 8500 this week, dodgy news notwithstanding. The longer term daily charts remain bullish with steeply ascending Raff channels and with R3 at 8511 for today the bulls will be keen to get a bull Monday in.

Initial resistance is at the 30m coral at the 8438 level though with 2h Hull resistance at 8450, along with R1 at 8452 we may well see an early attempt for this level, and a double top with Friday's high.

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