Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: FTSE100 faces strong resistance at 200 W MA, good to sell on rallies

  • Major resistance- 6430 (200 W MA)
     
  • Major support – 6296 (55 W EMA)
     
  • The index has made a high of 6471 yesterday and started to decline from that level . It is currently trading around 6375.
     
  • Overall trend is slightly weak as long as index not closes above 6430 (200 day MA) level.
     
  • FTSE100 major support is around 6296 and break below targets 6230/6180/6110 in short term.
     
  • On the upside major resistance is around 6430 and break above will take the index to next level around 6500/6560 level.

It is good to sell on rallies around 6375-80 with SL around 6440 for the TP of 6229/6180.

 

  • Market Data
Close

Welcome to EconoTimes

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