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Can the bulls drive it higher | 8500 8471 support | 8540 8586 8602 resistance

#1 · 13th March 2025, 10:45 am

Technical analysis for FTSE 100 for 13th March 2025

A bit of relief for the bulls yesterday with the 8500 level holding, and a bit of a bounce again after the US CPI news followed the buy the rumour sell the news pattern. Main news today is US Initial Jobless Claims and PPI at 12:30 so expect a bit of volatility then.

For the FTSE100 today I am thinking that we will see an initial climb towards the 5550 daily pivot area before dropping back to test the 8500 level again. This is now the Hull MA 2h support level so the bulls will be keen to defend this again today and use it as a springboard for a push higher. Sentiment remains negative though along with the gauge on "extreme fear". However, a possible peace deal with Russia remains in the wings which may well help the bulls.

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