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FTSE 100 flushed lower on weaker PMI data, Brexit uncertainty via Gibraltar feud, weaker Chinese data & terrorism concerns via Russia.
Daily chart remains bearish with H&S formation target of 6085. Support is seen at 7260- 7240.
60 mins chart indicates solid support at 7260.
10 mins - support seen at 7285 and 7260. Resistance above at 7315 , 7335, 7350.
Game plan: maintain a bearish bias until 7280-7260-7240. Once we get to those support levels then expect a short squeeze so I will reverse bias based on fundamentals.
Daily chart remains bearish with H&S formation target of 6085. Support is seen at 7260- 7240.
60 mins chart indicates solid support at 7260.
10 mins - support seen at 7285 and 7260. Resistance above at 7315 , 7335, 7350.
Game plan: maintain a bearish bias until 7280-7260-7240. Once we get to those support levels then expect a short squeeze so I will reverse bias based on fundamentals.
