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Still bearish but bulls need to defend 7370 | 7315 below | 7435 7451 7520 resistance

#1 · 23rd October 2023, 8:44 am

Technical analysis for FTSE 100 for 23rd October 2023

The bears managed to drive it down to the 7372 support level last thing on Friday and as such we have now got a gap there for today as we are opening back around the 7410 area. Today looks like it might well tread water a bit and we have initial resistance at the 7450 level with the R1 and Hull MA resistance levels here.

An early rise to this level would fit well before the bears have another go and try and break 7400 once again, and probably try and make it stick this time. Geopolitical tensions continue unabated for the time being as well, with unrest throughout Europe in term of protests/rallies etc.