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ForumTrading Forum with market discussion and live trades: Market DiscussionIf the bulls can pull away from 8 …

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If the bulls can pull away from 8200 then 8255 8285 resistance | 8180 8160 8108 support

#1 · 9th October 2024, 10:19 am

Technical analysis for FTSE 100 for 9th October 2024

Well after the bear Tuesday will we see a dead cat bounce today... the bulls have fought back from the 8180 level which was the bottom of the 20 day Raff channel for yesterday and the price has stumbled back above the 8200 level. For today I am thinking that we may well see an initial rise towards the 8255 level for a test of the 200ema on the 30min, though there is stronger resistance just above this at the R1 and key fib at 8285.

As such, should we see this level then a short here is worth a go as that would be a good profit point for the 8180 longs being 100 points.

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