UK 100 Index: Rectangle Pattern Trading Opportunity


Published On: 8 December 2023, 4:35 PM | Jun Yuan Kwong, Dealer

Key Entry Price Pivot(s):
  • 7545

    • Recommended Trade:
  • Short at level 7545, take profit at 7485, stop loss at 7570

    • Alternative Case:
  • Long at level 7480, take profit 7540, stop loss at 7460

    • Remarks:
  • Looking at the 30-minute chart of the UK 100 Index, it had recently been consolidating in a rectangular range between $7545 and $7480, with strong support and resistance, respectively, on either side.
  • The rectangle pattern indicates there is no trend, as the price moves up and down between support and resistance.


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