Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: FTSE100 Daily Outlook

Ichimoku Analysis (4-hour chart)

Tenken-Sen- 6120

 

Kijun-Sen- 6096

 

FTSE100 is trading higher despite weak UK GDP data. The economy for the second quarter has dropped to minus 20.4% slightly above expectations -20.5%. The June GDP came at 8.7% vs estimate of 8.1%. The global markets are trading positive after Russia announced a vaccine for COVID-19. The S&P futures are trading slightly higher and currently trading around 3356.

 

The near-term resistance to be watched is 6220 and any violation above will take the index till 6275/6325. Significant trend continuation only if it crosses 6352.

 

The immediate support is around 6097, any indicative violation below targets 6030/5980. Bearish continuation only if it breaks below 5800.

 

It is good to buy on dips around 6175-80 with SL around 6100 for the TP of 6300.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.