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Long

FTSE 100 forms Bullish Cypher Pattern, good to buy at dips

FX:UK100   FTSE 100 Index
143 0 2
Harmonic Pattern Formed- Bullish Cypher pattern

Potential Reversal Zone (PRZ) – 6125.

The index has made a high of 6447 and declined till 6196 from that level. It is currently trading around 6284.

Overall trend is bullish as long as support 6050 holds.

On the higher side major resistance is around 6330 and break above targets 6370/6420/6450.

It is good to buy at dips around 6125-30 with SL around 6050 for the TP of 6300/6330.
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