FTSE retest of ATH, The Week Ahead 03rd March ‘25

Market Sentiment:
The FTSE 100 index maintains a bullish outlook, supported by the long-term uptrend. However, price action is at a key technical level, where market participants will look for confirmation of the next move.

Bullish Scenario:
Key Support: 8709 (20-day moving average, previous consolidation zone, and rising trendline).
A pullback to this level, followed by a bullish rebound, would confirm continued strength in the uptrend.
Upside Targets:
8850 (initial resistance)
8900 (next key resistance)
9000 (psychological resistance and long-term target)
A strong bounce from 8709 would reinforce bullish momentum and signal a continuation of the prevailing uptrend.

Bearish Scenario:
A confirmed break below 8709, with a daily close beneath this level, would indicate a potential trend shift or deeper correction.
This could expose the index to further downside risk, targeting:
8650 (next immediate support)
8620, if selling pressure intensifies
A sustained loss of 8709 could weaken bullish sentiment, increasing the likelihood of extended consolidation or correction.

Market Outlook:
The 8709 remains the key pivot level—holding above it supports the bullish case, while a break lower could indicate a shift in momentum. Traders should monitor price action and volume near this level to assess the next directional move in the index.

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