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Bulls will want to defend 8200 but 8220 8270 resistance | 8160 8123 support

#1 · 11th September 2024, 10:12 am

Technical analysis for FTSE 100 for 11th September 2024

A decent drop in the end yesterday as the bears attempted to break the 8200 level again. It's just about held overnight having bounced off the 8170 area, and we may well see the bulls try to push it up today. Initial resistance is at the 8220 daily pivot level, with 8270 above that, with the key fib and R1 both here.

Following the drop yesterday the 2h chart is tenchnically bearish but the price is currently above the Hull MA, so a bit indecisive to start with today. We are seeing the bulls fighting back. The daily chart also remains bearish, with the 25ema, R1 and top of the 10d Raff channel all at 8270 - should we get this high then a short where is worth a go.

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