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Can the bulls defend 8650 to break 8700 properly | 8740 resistance | 8614 support

#1 · 26th March 2025, 10:52 am

Technical analysis for FTSE 100 for 26th March 2025

Yet again the 8610 support level holds, and we got another attempt yesterday to break the 8700 level. It looks more likely to break and hold above today though as the 2h chart has gone bullish with 8654 now locked in as Hull MA support. For today therefore I am expecting some more upside, and we have just had inflation data out which has fallen unexpectedly in a boost to Rachel Reeves as she prepares to announce cuts to public spending in her Spring Statement.

The consumer prices index (CPI) eased from 3pc in January to 2.8pc in February, according to the Office for National Statistics (ONS). If it drops again for March then I still think a small rate cut in May is likely, especially as the economy continues to slow down.

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