FxWirePro: Sell FTSE100 on rallies

• Major support – 7290
   
• FTSE100 formed a minor bottom around 7292 on Jun 30th 2017 and shown a minor jump from that level. The index jumped till 7389 (Jul 10th 2017 high) and is currently trading around 7309.
   
• On the lower any break below major support at 7290 will drag the index down till 7195 (Apr 28th 2017 low)/7092 (Apr 19th 2017 low).
   
• The near term support is around 7385 (55- 4H EMA) and any break above will take the index till 7403 (89- 4H EMA)/7430 (200- day MA).
   
• Minor bullishness can be seen only if it closes above 7430.

It is good to sell on rallies around 7355-7360 with SL around 7431 for the TP of 7290/7195.