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Option Expiry | Can the bears drive it down again towards 8320 | 8381 8426 resistance

#1 · 18th October 2024, 10:28 am

Technical analysis for FTSE 100 for 18th October 2024

The FTSE100 managed to get to the 8395 resistance level yesterday and with our short there the plan is to run that now. If we get a decent slide down today then I will just trail the stop as usual and am thinking that we may well see a decline down to the 8320 area during trading hours.

Initial resistance for today is at the 8384 level where we have the red 30m coral line and it feels like a short the rallies sort of session to start with. The crucial support is 8350 as we have the Hull MA here, along with the overnight low so the bears will need to break this to test that 8320 level.

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