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Looking bearish in the short term | 8350 8381 resistance | 8297 8273 support

#1 · 5th December 2024, 10:54 am

Technical analysis for FTSE 100 for 5th December 2024

The drop off 8360 played out well yesterday while the 8320 area has held as support, even overnight. That said there is a slightly strong bearish overtone running so we could see some further declines down to the 8280 support level. This is S2 and the key fib level so if tested it should see a bounce.

Initially though we may well get a climb to the 8350 level and a test of R1, following a similar pattern to the ASX200 which rose and dipped.

Above the 8348 R1 level then the bulls would be aiming for.....

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