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Inauguration Day | dip and rise with bulls in charge still | 8483 8460 support | 8560 resistance

#1 · 20th January 2025, 11:00 am

Technical analysis for FTSE 100 for 20th January 2025

A few very strong sessions last week and here we are back at the 8500 area already in 2025. As you know, the US is closed today for Martin Luther King day, and it's also Trump's inauguration. As such we may well see a rise and dip play out again today and the FTSE100 will be keen to recapture the 8500 level having dropped back to 8485ish to start with today.

Friday's high at 8534 is the initial resistance level and then R1 at 8552. I think we may well see things stall here and then a bit of profit taking again. The 2h chart is bullish still, with the Hull MA untested and giving support at the 8460 area and then the 2h coral (green) at 8360 currently.

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