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Drops to 7595 | bulls will be fighting back | Rise and dip | 7650 7670 7715 resistance

#1 · 29th February 2024, 10:31 am

Technical analysis for FTSE 100 for 29th February 2024

Having bounced off the 7600 level last night the bulls will be aiming for a leap year push up today and a rise and dip on profit taking later may well play out. The 2h chart has now gone bearish and has resistance at the 7650 level so this is the first hurdle for the bulls, for a possible test of the 7715 level today.

It looks like we may well see a rise and dip on the US markets today as well. The S&P500 2hr chart is bearish and has decent resistance from both the Hull MA and the coral at the 5090 area, so a short here is worth a go.