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CPI ticks up | 8101 8074 8051 support | 8150 8201 resistance

#1 · 20th November 2024, 12:04 pm

Technical analysis for FTSE 100 for 20th November 2024

A bit of an overreaction to the downside yesterday saw the 8050 level tested once again, but it managed to hold and we are looking to open at around the 8100 area. News just breaking first thing that the US have closed their embassy in Kyiv, following a threat of an air strike. That may well spook things to start with and another test of the green 2h coral at the 8074 level is likely, We also have initial support at the 8090 level with the 30m 200ema here.

On the flip side, the UK CPI figure has just ticked up to 2.3% and slightly above forecast which may well help the bulls if they want to fight back today. We are also waiting for the Nvidia results later on.

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