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FxWirePro: Sell FTSE100 on rallies 

Ichimoku Analysis (4-hour chart)


Tenken-Sen- 5976

Kijun-Sen- 6033


FTSE100 continues to trade lower on the strong pound sterling. The broad-based US dollar selling and a slight improvement in the UK are supporting the pound sterling. The new tax rules and Brexit uncertainty is putting pressure on the FTSE  index. S&P is trading slightly higher and currently trading around 3500.

The near-term resistance to be watched is 6000, any violation above will take the index till 6065/6100/6175. Significant bullish trend continuation only if it crosses 6350.

It is good to sell on rallies around 6000 with SL around 6100 for the TP of 5800.
 

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