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2017.04.2407:07:00UTC+00Fxwirepro: Ftse100 Trades Above 7200, Jump Till 7449 Likely
FTSE100 has shown a huge recovery in European session on account of first round of French elections. The index broken psychological resistance of 7200 and jumped till 7253 at the time of writing.
Global stock markets shown a huge recovery as Macron to face Le Pen in French presidential run-off.
The index faces strong support at 7090 and any further weakness can be seen only below that level. Any break below will drag the index till 7014 (200- day MA)/6930 (61.8% retracement of 6609 and 7449).The minor support is around 7150.
The near resistance is around 7313 (61.8% retracement of 7449 and 7093) and any break above will take the FTSE100 till 7408 (Apr 11th 2017 high)/7449 (Mar 17th 2017 high).
It is good to buy on dips around 7180-7190 with SL around 7090 for the TP of 7408/7449.
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