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ForumTrading Forum with market discussion and live trades: Market DiscussionCan the bulls recapture 8300 | 83 …

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Can the bulls recapture 8300 | 8355 resistance above | 8241 8220 support

#1 · 25th October 2024, 10:40 am

Technical analysis for FTSE 100 for 25th October 2024

The bulls are starting today's session on the back foot but we do have a bullish 2h chart, based on the moving averages, to start with and 8271 support on that. They will be keen to try and break above the 8300 level to start with as we do have the red 2h coral here but also more crucially the daily pivot and the 200ema 30m.

Above the 8300 then the 8352 is daily resistance and also ties in with the key fib at 8356. As such, if we were to get this high today then a short here is worth a go ahead of some possible profit taking ahead of the weekend. The daily Raff channels are still heading up, though with the drop off 8340 yesterday we are now just below the 25ema, which is adding an element of weakness.

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