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Dow hits 40000 | FTSE100 bearish | 8426 8458 resistance | 8401 8382 support

#1 · 17th May 2024, 11:38 am

Technical analysis for FTSE 100 for 17th May 2024

A bit weaker yesterday on the FTSE100 but the 8400 remains as support still. With it being Friday a bit more caution as per usual though we may well see a rise and dip play out. With the weaker session yesterday the 2h chart has remained bearish with the 8450 as the Hull MA resistance. The 2h coral has now also gone red for the first time in a while and has resistance at 8455.

As such should we see an early rally to this 8450 area we may well see a stall here. I have put the order just above this though as R1 is 8458 and 8471 is also showing as key daily resistance so we may well see a slight overshoot of the 8458.

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