Harmonic Pattern- Bearish AB=CD pattern
Potential Reversal Zone (PRZ)- 7510
RSI bearish divergence
UK100 is consolidating after hitting high of 7481 on Apr 9th 2019. It has jumped more than 14% on account of US-China trade optimism which has increased risk appetite. EU and UK has agreed to extend its Brexit deadline by 6 months till Oct 31st. UK PM May is to have talks with Labor and opposition party leader Corbyn today as Parliament returns from Easter break.
On the lowerside , near term support is around 7450 and break below will drag the index down till 7400/7385.
The near term resistance is around 7510 and any break above will take the index to next level till 7550/7600 level.
It is good to sell on rallies around 7508-10 with SL around 7525 for the TP 7385.
