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Can the bulls build on the bounce | 8250 8215 8199 support | 8292 8310 8330 resistance

#1 · 5th June 2024, 9:16 am

Technical analysis for FTSE 100 for 5th June 2024

The FTSE100 long from 8207 is still running and the bounce has gained some further momentum overnight which is nice. That may roll through into a more bullish session today, as long as the bulls can defend any drop down to the support area at 8260-8240.

Optimistically we may well be on for a test of the daily resistance level at 8324 today, and possibly may even see the higher one at the 8370 area this week. Germany jobs data yesterday disappointed, and we have the ECB rate decision tomorrow with a small reduction expected. That may well act as a bit of a catalyst if so for a push up to start June off.

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