After a huge sell-off of more than 250 points FTSE100 is trading higher for four consecutive day. Global markets was trading higher after dovish Fed .US Markets recovered than 3% on account of better than earnings. Brexit uncertainty is major concern. UK wants to renegotiate the Irish backstop But EU is not willing to reopen any talks. Pound sterling lost more than 150 pips after key Copper vote on extending deadline for Britain to leave EU failed. FTSE100 hits intraday high of 7023 and is currently trading around 7011.
Technically the index is trading above resistance 7000 and this confirms bullish continuation. A jump till 7140/7200 is possible.
The near term support stands at 6850/6800/6733. Further weakness will be seen only below 6733 low made on Jan 28th 2019.
It is good to buy on dips around 6960-65 with SL around 6900 for the TP of 7140/7200.
