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Buy the dip | 8770 8744 support | 8799 8832 8857 resistance | FOMC Minutes

#1 · 28th May 2025, 9:40 am

Technical analysis for FTSE 100 for 28th May 2025

It's still all about the 8800 level and the bulls will be looking to break that again today, hopefully helped by the NVIDIA results later. Initially we have the daily pivot as resistance at 8799 though we still have a bullish 2h chart for the time being, with the 8781 coral level in play still. Nothing like a narrowing range to start the day!

Just below that coral support we have the 30m 200ema at the 8770 and S1 at 8774, so it would be good to see this hold initially for a day of buy the rumour sell the news. We also have the FOMC minutes out at 7pm which may well give some further insight into rate cuts so expect a bit of volatility then. Below the 8770 level then 8744 is the next major support of note, with the key fib and S2 here, and if we were to get that low then a long where is worth taking.

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