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Flirting with 8000 | 7993 8024 resistance | 7950 7935 support

#1 · 2nd April 2024, 8:42 am

Technical analysis for FTSE 100 for 2nd April 2024

Might see a bit of chop today after the long weekend, however a rise to once again test the 8000 area looks possible, especially as we saw it on the futures yesterday. The 2h chart is bearish to start with though and has Hull MA resistance at 7990 so lending weight to this area as resistance to start with.

We may well see a rise and dip play out today as a bit of bear Tuesday kicks in later, and that would tally with the S&P500 rising to the 5248 area to test its Hull MA resistance. We have initial resistance at the daily pivot and the red 30m coral line as well at the 7983 area to also give a bit of weight to this level.