FTSE100 has hated its 8 days of loosing streak on Jun 3rd. It formed temporary bottom around 7079 and shown a recovery of more than 2.5%. The main reason for jump
- Fed Rate cut hopes
- Global stock market has shown good rally
- US and Mexico trade deal optimism
Technically major near term resistance is around 7273 (55- H EMA) and any convincing break above confirms minor trend reversal and a jump till 7318/7375 likely.
On the lower side, near term support is around 7245 (300- day EMA) and any violation below will drga the index till 7200/7161 (200- day MA).
It is good to buy on dips around 7235-40 with SL around 7200 for the TP of 7318/7370.
