ProjectSyndicate

uk100 daily overview of key s/r levels buy/hold trade

Long
CAPITALCOM:UK100   FTSE 100 Index
🔸Hello traders, today let's update the 2daily chart for UK100. We are currently testing
weak s/r level near 7300, however I expect the level to break soon and more downside.

🔸Price was rejected off the highs recently and correction in progress now expecting
more losses until we bottom out near 6900, which is a great level to buy/hold for the bulls.
expecting a re-test of mirror s/r level at 7650 points, so this makes this a decent setup
on buy side (10% upside)

🔸recommended strategy bulls: wait for correction to complete near 6900, do not buy/hold
right now, since current s/r level won't hold (weak s/r level) and more losses incoming.
get ready to buy/hold low near 6900 points targeting mirror s/r level at 7650. 10% upside,
low risk entry on buy side. good luck traders!

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