ING Groep About to Drop? We look to Sell at 9.90 (stop at 10.24)
Short Term - We look to Sell at 9.90 (stop at 10.24)
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 10.00, resulting in improved risk/reward. Trading close to the psychological 10.00 level. Price action is forming a bearish flag which has a bias to break to the downside. There is scope for mild buying at the open but gains should be limited.
Our profit targets will be 8.24 and 7.45
Resistance: 10.00 / 11.00 / 13.50
Support: 9.00 / 8.00 / 7.25
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