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FTSE Bounces From Buying Opportunity At 7465/55

Published 02/01/2018, 06:11 AM
Updated 07/09/2023, 06:31 AM
UK100
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FTSE Weekly Chart

FTSE bounce from our buying opportunity at 7465/55 reaches 7497 as I write. There is a good chance the correction is over after a 280 point drop. Further gains target 7510 then first resistance at 7525/30. Watch for a high for the day but shorts may be a little risky now. If you try stop above 7545 and look for a test of strong resistance at 7570/75.

Try longs on any move towards 7465/55 with stops below 7440. An unexpected break lower is a sell signal targeting 7420/15 and minor support at 7380/75.

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