UK100 - Intraday - We look to Sell at 7500 (stop at 7525)
The previous day's candle led to further selling yesterday. Previous of 7475 broken. The overnight dip has been bought into and there is scope for further pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall move lower. Further selling is expected to follow with the hourly and our bespoke resistance (7500) offering incentive.
Our profit targets will be 7425 and 7400
Resistance: 7500 / 7525 / 7540
Support: 7460 / 7425 / 7400