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FTSE100 has halted its 2- week of uptrend and shown a minor decline. The index has formed minor top around 7261 and is currently trading around 7168.The index recovered more than 500 points from low of 6733 made on Jan 28 following footsteps of global markets.It hits low of 7162 at the time of writing and is currently trading around 7172.
On the lower side, near term support is around 7160 and any break below will drag the index down till 7123-7137 (200- H MA/23.6% fib).Any hourly close below 7123 targets 7071 (300- H EMA).
The major resistance is around 7215-20 and any convincing break above targets 7262/7305.
It is good to sell on rallies around 7195-200 with SL around 7230 for the TP of 7137/7125.
