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FTSE100 has shown a good recovery of more than 2% after 20 day of huge selling of more than 5% on renewed US and China trade tension. US has imposed trade tariff of $200 billion Chinese goods from 10% to 25% and to counter this China increased tariff of 5000 US products.US President Trump optimistic tweet on US-China trade talks and delay in tariff on European car imported by 6 months is supporting global stock market. It hits high of 7235 and is currently trading around 7271.
On the higher side, near term resistance is around 7313 (200-4H MA) and any break above targets 7385/7450.
The near term support is around 7250 and any violation below will drag the index till 7200/7171/7126.
It is good to buy on dips around 7220-25 with SL around 7170 for the TP of 7385.
