Technical analysis for FTSE 100 for 15th April 2025
The FTSE100 paused for breath yesterday with "only" a 100 point range all day. The 2h chart remains positive for the time being, and we may well see a rise and dip play out today with a bear Tuesday kicking in later.
Initial support is at the daily pivot at the 8116 level and it would be good to see this hold for a rise to test the 8170 level where we have the R1 and key fib resistance levels. This then looks to be decent resistance and would also set up a decent double top with yesterday and as such should get a reaction.
If the bulls can push past 8172 though we can then look for the 8223 R2 level and ultimately a test of the 8280 level which is the next daily resistance level of note and may well cap this leg up for the time being. 8276 is also R3 for today.
Not likely today but should it push past that then 8335 200ema on the daily is the next level to look out for.
Support wise, below the daily pivot then the bears may well manage to get it back down to the 8050 area where we have the key fib and the 30m 200ema. 8063 is also S1. As mentioned yesterday the bulls will be looking to pull away from the 8100 level really this week to retrace the recent falls.
The US markets are certainly fighting back and the S&P500 will be looking to defend 5400 initially today. Resistance is at the R1 and key fib to start with at the 5444 level and a break of this will likely lead to a retest of yesterday's high at 5461, with 5507 above that. That said, I do think that the 5444 level will get a reaction, at least initially today.
So looking like a rise and dip today.
Good luck!
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