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Bulls on the back foot to start the week | 7393 7384 7362 support | 7437 7480 7504 resistance

#1 · 17th July 2023, 10:32 am

FTSE 100 support and resistance, trading prediction and analysis for 17th July 2023

Support and resistance - Asian shares slipped on Monday as lacklustre Chinese economic data were not as bad as the worst fears, but still stoked market impatience with the lack of major fiscal stimulus from Beijing.

China reported economic growth of 0.8% in the second quarter, above the 0.5% forecasted, while the annual pace slowed more than expected to 6.3%. Industrial output topped expectations with a rise of 4.4%, while retail sales missed by a tick at 3.1%. That followed figures out over the weekend showed China's new home prices were unchanged in June, the weakest result this year.

FTSE 100 support and resistance, trading prediction and analysis

That was a great drop off the 7480 level on Friday and was good to ride most of that short too. We have now dropped to the round number at 7400 and with S1 and the 30m 200ema here the bulls will be keen to defend this level.