FTSE 100 futures: Buy the dip for resistance retest?
FTSE futures continue to coil in a triangle pattern dating back nearly a year. While that suggests we may eventually see a decisive break at some point, today’s setup looks at playing the existing range.
The price has been well supported on dips towards and through 8200 recently, bouncing on four consecutive occasions.
Considering the price action, one setup to consider would be to buy above this level with a stop beneath Tuesday’s low for protection.
Despite recent weakness, momentum indicators like RSI (14) and MACD continue to trend higher, making the preference to buy dips over selling rips.
The January 9 high is one potential target, another triangle resistance located just below 8400.
Good luck!
DS
The price has been well supported on dips towards and through 8200 recently, bouncing on four consecutive occasions.
Considering the price action, one setup to consider would be to buy above this level with a stop beneath Tuesday’s low for protection.
Despite recent weakness, momentum indicators like RSI (14) and MACD continue to trend higher, making the preference to buy dips over selling rips.
The January 9 high is one potential target, another triangle resistance located just below 8400.
Good luck!
DS
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.