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New month money with a dip and rise | 8490 8453 support | 8556 8596 resistance

#1 · 1st May 2025, 10:09 am

Technical analysis for FTSE 100 for 1st May 2025

Well we got the dip and rise play out yesterday as the bulls continue to try and drive the price away from the 8465 level. A brief foray below then saw the bulls drive it up to the 8530 level and we may well continue to build on that today as the new month money comes in. Initially we may well see a dip first thing to test the daily pivot support level at the 8494 and this is also just above the Hull MA support on the 2h chart at 8485. As such I would like to see this hold on any early test and we get some more upside today towards the 8600 area. It does feel like we are still on track for a test of the 8700 level before too long.

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