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If the bulls defend 8250 then 8300 on the cards | 8326 resistance | 8202 support

Nick@ht-admin
#1 · 16th September 2024, 10:24 am

Technical analysis for FTSE 100 for 16th September 2024

A bullish end to the week on Friday which should roll through into today, at least initially. The focus this week is on the Fed and rate cuts (or not) on Wednesday. Thursday is then the BoE's turn and likely to hold at 5% this month.

Initially today we may get a drop down to the the 8260 area where we have the 30m 200ema and Hull MA to support things at the start. However, a break of this and then the bears will be looking to regain control and a slide down to the 8205 S2 and daily support area would be on the cards.  As such, worth shorting a break of the 8255 level.

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Last edited on 16th September 2024, 10:25 am by Nick