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New month money with dip and rise 7315 7300 7283 support | 7381 7404 7420 resistance

#1 · 1st November 2023, 9:41 am

Technical analysis for FTSE 100 for 1st November 2023

Usual story for the 1st with the new month money likely to flow in and help to push the FTSE100 up towards that 7400 key resistance level. We have R2 here for today, as well as the slightly higher 7417 resistance so I have split the difference and gone for a short mid way between them. The short yesterday played out well from 7370 as we got the pump and dump play out well for the month end, though the bears weren't able to crack the 7300 level.