Technical analysis for FTSE 100 for 14th April 2025
Another day and more tariff news, this time an announcement of some exclusions helping out the tech companies which has now seen a decent start to the week. Today I am thinking that we will get a dip and rise as we we retrace some of this early bounce. We may well see most markets drop down to their daily pivots before a bit of Bull Monday resumes.
For the FTSE100 that plays out with a drop down to the 8025 area to test the pivot, and also a green 30m coral. If this holds then it should set up a decent climb back up towards the 8200 area.
However, below this 8020 then keep an eye on the 7980 area as we have the 30m 200ema here, along with the key fib. Should we see this area then I would like to see this hold really, especially as per Friday's email, the bulls will be wanting to defend the 8000 level and the further they can pull away from it the better before the next leg down.
The 2h chart remains bullish and we still have the green coral as yet untested with support at 7850 likely later on as it's rising quite steadily. I dont expect it to get to this though, but it does show a decent bullish trend for the moment and that favours buying the dip today.
On the resistance side of things then 8190 is R1 to start with, and then 8282 for R2. Just above this the daily 200ema at 8337 looks to be fairly key and if we test that anytime soon then I would expect a reaction off this line. It would also tie in with another test of the daily 25ema here, which is the MA we dropped off from on the 28th March with a daily sell signal at 8664. And we all know how that turned out!
Prior to this level then 8180 would be a decent double top with the high from Wednesday that we spiked up too - ergo a short here early on could be worth a try. A break above this then targets that 8280 level.
The S&P500 is also looking like a dip and rise sort of day with a possible gap close with Fridays closing price at 5361, and a possible move lower to the daily pivot at 5306. Again, buying the dip on this at this support area would make sense, and the bulls are looking for a climb to the 5677 level at the moment to test the daily 200ema.
Good luck today!
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