FTSE100 has shown a good recovery of more than 1% after hitting low of 7269 yesterday. The jump was mainly due to weak pound which was trading lower for past 11 days and lost more than 350 pips.Cross party talks between Labor and government ended without any agreement.The house of commons vote on her EU withdrawal agreement bill this week beginning Jun 3rd. It hits high of 7356 and is currently trading around 7349.
On the higher side, near term resistance is around 7363 (double top) and any break above targets 7385/7450.
The near term support is around 7320 and any violation below will drag the index till 7300/7269.Any break below 7244 (300- day EMA) targets 7200/7180 (200- day MA)
It is good to buy on dips around 7310-20 with SL around 7265 for the TP of 7450.
