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FOMC 4.5% | Rise and dip | 8700 8660 8631 support | 8729 8764 resistance

#1 · 19th March 2025, 10:56 am

Technical analysis for FTSE 100 for 19th March 2025

8700 is key to start with this morning as we have the 2h Hull MA here, along with the round number and the bulls have defended this well since Monday's rise. As such the daily chart has gone bullish again with the 8666 level now the 25ema support and certainly looking stronger than the US markets at the moment!

If the bulls do defend the daily pivot at 8704 to start with then we may well see a rise and dip play out as buy the rumour sell the news plays out ahead of the Fed today and BoE tomorrow, despite expectations of no changes.

Below the daily pivot then the 8640 2h green coral will be the bears target, despite the bounce off 8680 yesterday. We could get a double bottom there, as it's also S1 for today, but I am thinking that a possible overshoot to the S2 level at 8655 is likely if the bears do gain control. We have a cluster of support here, with the key fib, 200ema and just above the 2h coral so I would like to see this hold today.

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