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UK up USA down | 8271 8290 8300 8330 resistance | 8235 8216 support

#1 · 12th July 2024, 10:42 am

Technical analysis for FTSE 100 for 12th July 2024

The FTSE100 held on well yesterday despite the sell off in the USA, so we may well see a bit more upside today. The S&P500 defended that 5580 support where we had the 200ema and the key fib, and has bounced a little bit overnight, while the FTSE100 looks like an initial test of the 8262 R2 and 8272 key fib to start with is on the cards.

We could see a dip off that to test the 8216 daily pivot support, and possibly even the 8200 are where we have decent 2h support from both the Hull MA and the green coral. If were were to test 8200 once again then a long here is worth a go, as we have a rising 10d Raff channel on the daily chart now, showing an uptrend underway.

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