FTSE Last drop before buying for the medium-term.

The FTSE 100 Index (UK100) delivered a strong short-term buy signal last time we looked at it (see chart below):


The index has been since rejected twice on the Lower Highs trend-line of what is almost a year long Descending Triangle. We will wait for a test of the Support Zone, ideally when the 1D RSI tests its Higher Lows trend-line and buy for the medium-term. Our target is the 0.618 Fibonacci retracement level at 7535.

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