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End of month rise and dip | 8240 8251 8320 resistance | 8160 8126 support

#1 · 28th June 2024, 10:10 am

Technical analysis for FTSE 100 for 28th June 2024

UK GDP has just come in slightly better than forecast at 0.3% YoY, which may well help the bulls pull away from this 8200 level once again. We had a brief foray below yesterday to test the 8165 level but have since climbed back. Today is also the last trading day of the month so we may well see some profit taking later on before the close.

With initial support at 8200 from the daily pivot, as well as the round number, the bears will be looking to break that which would target the 8166 daily support and S1 at 8160. A bounce here would again make sense, otherwise a slide down to 8120 would be the next level of note where we have daily support and S2 at 8126.

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