Major support- 7200
FTSE100 has lost more than 7% from the high of 7791 and hits low of 7213. The index jumped till 7345 and is currently trading around 7337.
Any hourly close above 7337 (200- H MA) confirms minor intraday bullishness, a jump till 7411/7438 (38.2% fib)/7500 likely.It should break above 7534 for further jump till 7639.
The near term support is around 7296 (100- H MA) and any violation below will take the index down till 7265/7200. Any close below 7200 confirms bearish continuation.
It is good to buy above 7340 with SL around 7320 for the TP of 7400.
