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Bulls need to defend 8060 for 8104 8132 | 8035 7995 below

#1 · 18th November 2024, 11:31 am

Technical analysis for FTSE 100 for 18th November 2024

Will we see a bull Monday in light of the US decision to ramp up the Ukraine v Russia situation with the approval of long range missiles? As one would expect gold has risen sharply in light of the news, though the S&P500 has remained upbeat so far.

For the FTSE100, I think that the bulls will try and maintain the momentum for the time being in light of the news, and the 8060 area is decent support to start with as we have the 30m 200ema and daily pivot in this area. If it does hold and we get a climb then they may get it up to the 8133 resistance level, which looks good for a short if they do.