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Will 7900 break | 2hr bearish | 7915 7889 7866 support | 7941 7969 resistance

#1 · 27th March 2024, 10:58 am

Technical analysis for FTSE 100 for 27th March 2024

With the shortened week it's all been a bit lacklustre so far though the bulls are defending the 7900 area still. The first test of the green coral on the 2h at 7890 held yesterday, but the 2h chart is actually bearish with resistance at the 7964 level. If we get a rise towards this then we could see it falter here and therefore that level is worth a short.

That also coincides with R2 for today at 7961, and just below the key fib at 7968 so is looking fairly key. Should the bulls break above this though then the 7988 R3 level and of course 8000 just above. The daily Raff channels continue to head up, though there will be some caution creeping in now ahead of the US inflation news on Friday.