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US CPI to dip | 8775 8735 support | 8801 8842 resistance | Can the bulls push on

Nick@ht-admin
#1 · 12th February 2025, 10:59 am

Technical analysis for FTSE 100 for 12th February 2025

The bulls have managed to hang in there and we could well be on for a test of the 8800 level today, and possibly even a push towards the 8842 resistance level if they can keep the momentum going. The slight spanner in the works is the fact that the 2h chart has gone bearish and has Hull MA resistance at 8803 to start with so that will be the first major hurdle.

The main news event will be the US inflation figures out at 13:30, with Powell continuing his testimony at 15:00. Both of which will have a bearing on the future path for US interest rates, and in turn the UK as well (though likely May for our next cut I expect, depending on how decimated the UK economy is by then).

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Last edited on 12th February 2025, 11:00 am by Nick