UK100GBPUK100
UK100 - Intraday - We look to Sell at 7500 (stop at 7525)
The previous day's bearish engulfing candle led to further selling yesterday. Previous support level of 7475 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (7500) offering incentive.
Our profit targets will be 7425 and 7400
Resistance: 7500 / 7525 / 7540
Support: 7460 / 7425 / 7400
UK100 - Intraday - We look to Sell at 7500 (stop at 7525)
The previous day's bearish engulfing candle led to further selling yesterday. Previous support level of 7475 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (7500) offering incentive.
Our profit targets will be 7425 and 7400
Resistance: 7500 / 7525 / 7540
Support: 7460 / 7425 / 7400
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.