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Can the bulls defend 8300 now | 8279 support | 8392 8430 resistance

Nick@ht-admin
#1 · 16th August 2024, 9:43 am

Technical analysis for FTSE 100 for 16th August 2024

The bulls will be looking to end the week strongly, in what has been a decent recovery so far from last weeks lows. That said, a Friday after a good week can be a little odd so do exercise some caution today and be a bit more risk off. Initially we may well see a rise towards the first key resistance area at 8392 where we have R1 and the key fib.

Some profit taking here may well play out, though ultimately a rise towards 8430 could happen today, as long as the daily pivot support at the 8331 level holds.

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Last edited on 16th August 2024, 9:45 am by Nick