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ForumTrading Forum with market discussion and live trades: Market DiscussionIsrael retaliates but 7750 holds …

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Israel retaliates but 7750 holds | 7800 support | 7840 7870 resistance

#1 · 19th April 2024, 12:09 pm

Technical analysis for FTSE 100 for 19th April 2024

And the tit for tat continues with the news this morning that Israel, despite everyone saying show restraint, attacked Iran. Albeit in a slightly limited way. It's like a school ground fight with little slaps at the moment and jostling.... hopefully it doesn't escalate into full blown punches.

The market of course tanked on the news, but the 7750 level that we had yesterday as the ultimate support did in fact hold overnight and has seen a bounce to back above the 7800 level. I expect we will see more upside today though as the market will want to look positive and shake it off. That should see an initial climb towards the 7830 level where we have the Hull MA on the 2h timeframe, but ultimately I would like to see a test of the daily pivot at the 7869 level.

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