Signal_Centre

Dip buying UK100 attracts interest

Long
FX:UK100   Indice FTSE 100
UK100 - Intraday - We look to Buy at 7335 (stop at 7295)
The dip was bought and the rally sold resulting in little net change for 4 consecutive (trading) days. There is scope for mild selling at the open but losses should be limited. Bias is mildly bullish today but we need to see a break of 7422 to confirm the upward pressure. Price action is forming a bullish flag which has a bias to break to the upside. Preferred trade is to buy on dips.
Our profit targets will be 7415 and 7450

Resistance: 7400 / 7422 / 7450
Support: 7335 / 7300 / 7260

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