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Option expiry | bulls need to defend 8660 8620 | 8740 8780 resistance | LHR closed

Nick@ht-admin
#1 · 21st March 2025, 12:53 pm

Technical analysis for FTSE 100 for 21st March 2025

8700 has been a magnet this week and we may well see another rise and dip play out today as the bulls try and defend it again. We have the daily pivot here for today as well so a push up towards the 8740 again would work well. It certainly dropped off the Hull MA there yesterday well, and the bulls were slow to react. They did end up defending the 8660 level in the end though and having brought it up from there they will be keen to defend 8700.

Initially then a rise to 8740 would make sense, and if the bulls can break above this then the next level of note is 8790 for a test of daily resistance as the bulls continue to aim for the 8800 level and we now have the top of the Raff channels at the 8880 area - not that I am expecting it to get that high today though. The 2h chart is still bearish and the Hull MA is still at 8740 to still give weight to that area.

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Last edited on 21st March 2025, 12:53 pm by Nick