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Can the bulls fight back today with 7303 7334 7387 resistance | 7250 7218 support

#1 · 21st August 2023, 9:16 am

FTSE 100 technical analysis for 21st August 2023

Asian markets held their breath on Monday as investors waited to see how serious Beijing was about policy easing via widely expected rate cuts, having so far sorely disappointed with its stimulus steps.

The Hang Seng Index declined as much as 1.8% and was set for its lowest close since November. Shares in mainland China also dropped into a second day, with finance stocks among the worst performers. Gauges in Japan and South Korea gained, but their advances may not prevent an Asian equity benchmark heading to its lowest level since March. Contracts for US equities were mostly steady.

S&P 500 futures were 0.1% firmer, while Nasdaq futures added 0.2%. Earnings from AI-darling Nvidia on Wednesday will be a major test of valuations.