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NVIDIA beats and spurs the bulls | 7715 7750 7772 resistance | 7648 7630 7612 support

#1 · 22nd February 2024, 9:54 am

Technical analysis for FTSE 100 for 22nd February 2024

Well the FTSE100 operated in its own little bubble yesterday and was a lot more bearish that the others, however having dropped down to test the 25ema on the daily at 7625 we saw a decent bounce - funnily enough it tested it just as the NVIDIA results were due out. And who says it's not gamed!??

Having bounced off that level and the NVIDIA results waking up the bulls again yesterday we may well be in for a bit more upside today. The S&P500 has managed to break the 5000 level again and is currently at 5025, so the bulls will be in "buy the dip" mode today. As you would expect pretty much all the indicators are currently bullish across the board, so that sentiment will probably play out on the FTSE100 as well.