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Strength today if bulls defend 7485 | 7432 below | 7534 7560 7615 resistance

#1 · 6th December 2023, 9:54 am

Technical analysis for FTSE 100 for 6th December 2023

The bears only managed to drop it to just above 7460 yesterday and the bulls have fought back once again, with 7500 proving to be the key battleground.

Initially today we may well pop up to test that 7533 area where we have R2 and the key fib and also a triple top area with the recent highs. As this would be the third test of this level we may well see it break shortly as the December strength keeps rolling through. Strong year end still on the cards!

The 2h chart is bearish to start with but a break of 7513 will be key there (that's also R1 though) and the shorter timeframes are more bullish anyway, namely the 30m as you can see below.