FTSE INTRADAY oversold bounce backThe FTSE 100 Index remains in a bearish structure, with recent price action confirming a break below the prior consolidation zone, indicating potential for further downside.
Key Resistance: 8224 – former support turned resistance, aligning with the intraday consolidation area.
Support Levels:
7760 – near-term target if bearish momentum continues
7645 and 7522 – medium to long-term downside objectives
An oversold bounce may occur, but unless price breaks and closes above 8224 on the daily chart, the bearish outlook remains intact.
Conversely, a confirmed breakout above 8224 would invalidate the bearish bias and open the path to test 8305, with 8460 as a secondary resistance.
Conclusion
The FTSE bias is bearish below 8224. Watch for a rejection at that level to confirm downside continuation. A daily close above 8224 would shift the outlook to bullish.
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