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Bulls on the front foot with 8250 8230 8194 support | 8290 8321 8372 resistance

Nick@ht-admin
#1 · 12th September 2024, 10:01 am

Technical analysis for FTSE 100 for 12th September 2024

Buying the dip played out well yesterday following the opening drop of 8220. Overnight we have seen more strength kick in following the decent Tech performance, and we may well see some further upside today. We do of course have the ECB (highly likely) rate cut later on today, at 1315. That's followed by jobs data and PPI in the USA at 1330. Expect some volatility around both of those times.

Initially today we are just at the 8290 double top level and the bulls still have 8320 in their sights. However we may well get a drop to start with due to that double top, and a test go the 8260 area where we have support from the 30min EMA.

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Last edited on 12th September 2024, 10:04 am by Nick