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UK PMI | 8585 8609 8647 resistance | 8523 8494 8465 support

#1 · 24th January 2025, 10:56 am

Technical analysis for FTSE 100 for 24th January 2025

The bulls have hung in there well this week but have still failed to break above the 8580 level which remains the line in the sand at the moment. That also ties in with R1 at 8585 to start with today so we could well see an initial drop down from this area to test the main support at the 8520 level.

With S1 and the 30m 200ema here I would like to see this hold for a decent end to the week. However the news backdrop is quite pessimistic with job cuts announced by Sainsbury's (first of many) along with the slow down in manufacturing. We also have PMI data this morning at 0925 and 0930 which may also disappoint and weigh on sentiment.

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#2 · 29th January 2025, 11:31 am

Good Morning Nick..

Just thought i would drop by and say hello..I'm still trading...wondered if you ever heard from TMFP All the best for 2025...Anstel..

#3 · 29th January 2025, 11:33 am

Hi Anstel, hope you have been keeping well. I haven't heard from TMFP for a long time now via the public site. We have quite a big members community now though!