This is making a retrace after spiking 3 days ago. I am looking for an entry around 0.5 Fibonacci as this aligns with some previous resistance although it is best to wait for confirmation as it could drop further. Once we see a rebound target will be at a new high and where it will meet resistance of 7004.
FTSE 100 has had a big push higher, want to see a retrace before entering a long. Once it peaks on the current spike look for retrace to around 0.382 Fibonacci for entry. I have set target at a new high of 7004.4 although there will likely be some resistance at the previous high so can also take profit there and re-enter on the retrace from there.