FTSE100 has lost more than 17% on account of global stock market turmoil and Brexit uncertainty. The index hits low of 6542 and jumped nearly 7%. It trading higher for past one week and broken minor trend line resistance around 6920 and is currently trading around 7000.
Short term trend is weak as long as support 6850 holds. Any violation 6850 will drag the index down till 6672/6540.Further bearish continuation only below 6500 level.
Any break above psychological level of 7000 will confirm further bullishness and a jump till 7146/7212.
It is good to buy on dips around 6930-35 with SL around 6850 for the TP of 7212.
Graf: FTSE 100