FTSE 100 - Awaiting a corrective move to get long
Trade Idea
Prices are extending higher from the bullish flag/pennant formation.
Positive overnight flows lead to an expectation of a firm open this morning.
Bespoke support is located at 7530.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
Preferred trade is to buy on dips.
We look to Buy at 7530
Stop: 7500
Target 1: 7630
Target 2: 7700
It’s a US holiday today so expect quieter markets today.
Prices are extending higher from the bullish flag/pennant formation.
Positive overnight flows lead to an expectation of a firm open this morning.
Bespoke support is located at 7530.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
Preferred trade is to buy on dips.
We look to Buy at 7530
Stop: 7500
Target 1: 7630
Target 2: 7700
It’s a US holiday today so expect quieter markets today.
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