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UK Manufacturing PMI disappoints | 8203 8217 8262 resistance | 8141 8095 support

Nick@ht-admin
#1 · 22nd November 2024, 11:18 am

Technical analysis for FTSE 100 for 22nd November 2024

Another week draws to a close and it looks like the bulls are going to end it with the upper hand, despite the best efforts of the Russia/Ukraine situation. The main resistance to start with is the 8203 key fib and just above the daily level and round number so we could see some profit taking here and a small drop down to the daily pivot. It still feels like buy the dip is the play as we continue that rise off 7995.  Also of course we may well start to get the Santa Rally playing out. The US markets are continuing to climb as well, and the daily candles on the S&P500 chart have long tails (bullish).

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Last edited on 22nd November 2024, 11:19 am by Nick