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Inflation drops but above forecasts | 8404 8360 support | 8446 8468 resistance

Nick@ht-admin
#1 · 22nd May 2024, 8:49 am

Technical analysis for FTSE 100 for 22nd May 2024

Inflation news just out and the bears capitalised with a drop down through 8400, following the overshoot of the 8420 resistance overnight. With the slight uptick in inflation in theory it does lend more weight to rate cuts, so we may well see a recovery later on.

I have left the order for the long to hop on any rise that may play out, though maybe we were just a bit too early with the short yesterday!

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Last edited on 22nd May 2024, 8:55 am by Nick