FTSE100 forms Bullish Gartley pattern, good to buy on dips
Harmonic Pattern – Bullish Gartley pattern
Potential Reversal Zone (PRZ) - 7092
FTSE100 has recovered slightly after forming a bottom around 7193.The index jumped till 7261 and is currently trading around 7249.
On the higher side, minor resistance is around 7278 (38.2% retracement of 7550 and 7193) and any break above will take the index to next level till 7326 (daily Kijun-Sen)/7383 (55- day EMA).
Short term bearish continuation can be seen only below 7090.
It is good to buy on dips around 7190-7200 with SL around 7090 for the TP of 7380/7410.
Potential Reversal Zone (PRZ) - 7092
FTSE100 has recovered slightly after forming a bottom around 7193.The index jumped till 7261 and is currently trading around 7249.
On the higher side, minor resistance is around 7278 (38.2% retracement of 7550 and 7193) and any break above will take the index to next level till 7326 (daily Kijun-Sen)/7383 (55- day EMA).
Short term bearish continuation can be seen only below 7090.
It is good to buy on dips around 7190-7200 with SL around 7090 for the TP of 7380/7410.