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Bulls need to break above the 8590 level | dip rise dip today | 8519 support | 8625 resistance

#1 · 4th February 2025, 11:12 am

Technical analysis for FTSE 100 for 4th February 2025

Good to see Trump bring business tactics to politics once again - start off high then negotiate down from here as both Mexico and Canada blinked first in light of the imposed tariffs. That led to the inevitable bounce in the S&P500 which ended up closing the gap at 6035 last night but has dropped back a bit again. I am thinking that we will get a dip rise dip pattern today across the board, with a bit of bear Tuesday kicking in later.

The FTSE100 tried to defend the 8550 level for most of the day but the stop hunt down to 8510 presented a good long opportunity in the end. Nice to catch that!

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