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ForumTrading Forum with market discussion and live trades: Market DiscussionCan the bulls push it to 8300 | 8 …

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Can the bulls push it to 8300 | 8285 8297 8330 resistance | 8225 8215 support

#1 · 8th January 2025, 11:28 am

Technical analysis for FTSE 100 for 8th January 2025

The bulls hung in there yesterday with a defence of the 8200 level, and despite the US being very bearish, managed to get a rise towards the 8250 area. That 8250-8260 area has capped all the recent rises so remains the level for the bulls to beat and if that happens today then we should see a rise towards the 8300 area.

8297 is R2 and its also just above the 8285 key fib, and those holding longs from 8100 over the holidays will likely look to bank here. As such we could see a drop off from this level before a bounce back. The 10d Raff channel is now looking a lot more positive and heading up well so as has been the case all week, buying the dips is good. For the FTSE100 anyway!

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