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Hovering at 8550 with 8602 8640 resistance | 8540 8510 8480 support

Technical analysis for FTSE 100 for 5th February 2025

Well we got the dip rise dip play out well yesterday but the bulls haven't really made a convincing defence of the 8550 level so far, as we are looking at opening at this level once again. We have the daily picot here for today as well to start with and if we see the bulls quick out the blocks (helped by the S&P500 sitting on its 2h support at the 6007 level as I am writing this) we could see an initial climb towards the 8600 level.

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