Thursday, October 15, 2026

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FxWirePro: FTSE100 forms bullish Bat pattern, good to buy on dips

Harmonic pattern formed- Bullish bat Pattern Potential Reversal Zone (PRZ)- 6765 The index declined continuously for the past seven days and tested 6824 at the time of writing. It is currently trading around 6857. On the…

By FxWirePro Team
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FxWirePro: FTSE100 forms bullish Bat pattern, good to buy on dips
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  • Harmonic pattern formed- Bullish bat Pattern
     
  • Potential Reversal Zone (PRZ)-  6765
     
  • The index declined continuously for the past seven days and tested 6824 at the time of writing. It is currently trading around 6857.
     
  • On the higher side, minor resistance is around 6905 (10- 4H MA) and   any violation above targets 6952/7000 in the short term.
     
  • Major weakness can be seen only below 6765 and any indicative break below will drag the index down till 6690/6645 (Sep 13th 2016 low).

  • Overall bearish invalidation only above 7130.        
                        
  • It is good to buy on dips around 6820-25 with SL around 6765 for the TP of 6952/7000

 

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By FxWirePro Team