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Can the bulls break 8100 today | 8095 resistance | 8013 7973 support

#1 · 25th April 2024, 9:31 am

Technical analysis for FTSE 100 for 25th April 2024

The bulls were slightly on the back foot yesterday as the drop from 8120 gained some momentum and Meta drove the bears into a bit of a frenzy. More tech earnings this evening as well with concern that the AI driven rally is running out of steam. That said, the 8000 level has held as support for the moment, and we are already testing the first key resistance level at the 8050 area where we have the daily pivot and the 30m coral.

As such we could see an initial dip off this to retest the overnight low and the 30m 200ema at the 8012 level, though the bulls will be keen once again to pull away from this and get a climb underway towards the 8100 level.

This 8100 area looks to be key resistance today as we have R1 at 8089 and also the key fib at 8095. Also throwing its hat into the ring we have the Hull MA on the 2h here, as that has gone bearish with the drop yesterday.

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