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Bulls regaining strength | 8700 8670 support | 8740 8774 8809 resistance | US GDP drop

#1 · 27th February 2025, 10:59 am

Technical analysis for FTSE 100 for 27th February 2025

The bulls failed to break above 8740 yesterday, and we saw another big dip down to the 8670 level. However the bullish 2h chart has remained so, and we may well see the bulls defend any drop down to the 8700 area again today. Nvidia results were neither here nor there in the end, though the S&P500 has fought back overnight.

Initially today we will be looking for the daily pivot to hold at the 8704 level to set up a bounce towards the 8740 level again, and with R1 here we may well see the bears have another go at this level. Ultimately today we may well see some more bullishness resume, helped by the US, and a rise towards the 8775 R2 level. 8740 does remain key though as along with R1 we also have the top of the 10d Raff channel here.

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