FTSE100 has shown a good recovery of more than 2.5% after 20 day of huge selling of more than 5% on renewed US and China trade tension.US President bid to blacklist Huawei has further intensified trade war and Chinese media stated that the country is not interested in further trade talks with US.The uncertainty in Brexit is putting pressure on GBP. The cross party talks between the Tories and Labor to end today without a deal.It hits high of 7363 and is currently trading around 7346.
On the higher side, near term resistance is around 7367 (20 day MA) and any break above targets 7385/7450.
The near term support is around 7290 and any violation below will drag the index till 7243 (300- day EMA)/7200/7171.
It is good to buy on dips around 7290 with SL around 7240 for the TP of 7450.
