Trading has been mixed and volatile. The sequence for trading is lower lows and highs. We have a 50% Fibonacci pullback level of 7374 from 7729 to 7020. Negative overnight flows lead to an expectation of a weaker open this morning. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7375, resulting in improved risk/reward. Expect trading to remain mixed and volatile.
We look to Sell at 7375 Stop: 7425 Target 1: 7235 Target 2: 7170