FxWirepro:FTSE100 forms temporary bottom at 6610, good to buy on dips
Major support – 6600 (Aug 8th 2016 low) FTSE100 jumped from the low of 6655 made on Nov 4th 2016 till 6876. The index declined sharply on account of Donald Trump wins the US Presidential election. The index major support…
FTSE100 jumped from the low of 6655 made on Nov 4th 2016 till 6876. The index declined sharply on account of Donald Trump wins the US Presidential election.
The index major support is around 6600 and any violation below targets 6455 (200- day MA)/6256 (61.8% retracement of 5727 and 7130).
On the higher side , 6803 (38.2% retracement of 7130 and 6610) and any break above targets 6875/6928 (61.8% retracement of 7130 and 6611)/7130.
It is good to buy on dips around 6760-65 with SL around 6600 for the TP of 6928/7130
