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DeepSeek ChatGPT rival spooks the bulls | 8440 8410 8401 support | 8510 resistance

#1 · 27th January 2025, 11:18 am

Technical analysis for FTSE 100 for 27th January 2025

A bearish start to today with messy technical, largely being attributed to the Chinese DeepSeek AI offering as a "better" and a "cheaper" rival to ChatGPT. That news has set the cat amongst the pigeons and we have gapped down significantly on the US markets, with the S&P500 flirting with the 6000 level imminently.

However, the FTSE100 is hovering around S1 at 8440 initially, and we have the daily support at 8410 below that. I am thinking that if we see 8410 we may well see a bounce here, as the bulls will be keen to defend this drop. The US tech bros will also be keen to retrace that fall when they come online later on too.

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