CPI rises to 3% | 8750 8721 support | 8772 8803 8818 resistance

CPI rises to 3% | 8750 8721 support | 8772 8803 8818 resistance

Technical analysis for FTSE 100 for 19th February 2025

We start off the day with PPI and CPI January data out at 7am, likely to generate some movement.  Initially today the bulls will be looking to defend S1 and the 2h Hull MA at 8755 and if they manage to do so then we may well finally see a test of the 8820 area. That should act as decent resistance as we have R3 here, along with it being the daily level of note.

That would work out at being a decent range for today, and the 20 point dividend should keep the bullish momentum going for the bulk of todays session.

Initial resistance to start with is 8774 where we have the 30m coral, and then 8788 yesterday's high. The round number at 8800 also looms into view, but I am thinking that we will pop through these today, as the 2h chart remains bullish for now, along with the still rising Raff channels.

If they were to break 8820 today then I would be looking for the 8837 level next, which is the most recent high, and then 8867 above that.

On the flip side, if the bears were to break 8750 then I am looking at a slide down towards S3 at 8721. If they were to break below this then 8679 daily support is the next level to look for. I am not expecting that today!


News - Inflation jumped to a 10-month high at the start of this year after the Government enforced sharp increases in private school fees. The consumer prices index rose from 2.5pc in December to 3pc in January, according to the Office for National Statistics, which was its steepest rate since March last year. The increase, which was larger than economists had expected, comes after the Government ended the long-standing VAT exemption for private schools on January 1.

From the start of this year, many schools passed price increases onto parents after the standard rate of 20pc was applied to private school education and boarding fees. It helped push services inflation up to 5pc from 4.4pc in December. Services inflation is among the readings closely watched by the Bank of England as it considers interest rate policy in a bid to keep inflation down.


So, generally looks like a rise and dip again today for the FTSE100, though possibly with a bit more movement during this session - yesterday was very muted!

The S&P500 needs to hold the 6122 support level to start with which should open up a rise towards the 6161 level, if the bulls can break 6146 R1 to start with. Meanwhile, the 2h chart is bearish with resistance from the Hull MA at 6141 as well.

The Dax40 also has a bearish 2h chart, and the bulls will be looking to break 22945 to test 23000. Support is 22824 to start with.

Good luck today

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