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Possible bear Tuesday - dip and rise | 7914 7962 resistance | 7886 7860 support

#1 · 26th March 2024, 10:19 am

Technical analysis for FTSE 100 for 26th March 2024

The bears are just trying to break it down below 7900 to start with and we may well see a slide down towards the 7860 support area this morning as we start off with a bit of a bear Tuesday. 7889 is the green 2h coral so this will be the first level that they will need to break.

There are a cluster of supports at the 7860 level with the S2, key fib and 30m 200ema all here. As such we may well see a bounce here if the bulls defend today. Ultimately they will be looking to break and hold above the 7900 level to continue targeting the 8000 level. As per yesterday's missive, the bias is still bullish so buying the dips on the longer timeframes is still the preferred play.