Although an initial dip was posted, buyers emerged and follow through bullish momentum resulted in all the previous day's losses being overturned. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Trend line resistance is located at 26890. Bespoke support is located at 26725. There is no clear indication that the upward move is coming to an end. Further upside is expected although we prefer to set longs at our bespoke support levels at 26725, resulting in improved risk/reward.
We look to Buy at 26725 Stop: 26650 Target 1: 26875 Target 2: 27000