Ichimoku Analysis (Daily chart)
Tenken-Sen- 6193
Kijun-Sen- 6203
FTSE100 is trading lower for 2nd consecutive days following footsteps of US markets. The increase in the number of new cases in the U.S is putting pressure on risk assets. The bulk surge of cases in Florida by 8530 and total cases now at 141075. The Overall trend is still on the weaker side as long as resistance 6515 holds. Markets eye intensive trade talks between the EU and UK for further direction. It is currently trading around 6.
The near-term resistance to be watched is 6203, and any violation above will take the index till 6241/6275/6300/6352. Significant trend continuation only if it crosses 6352.
The immediate support is around 6100, an indicative violation below targets 6035/6000/5900. Bearish continuation only if it breaks below 5891.
It is good to sell on rallies around 6215-20 with SL around 6300 for the TP of 5935.
