Ichimoku Analysis (4-hour chart)
Tenken-Sen- 6193.85
Kijun-Sen- 6193.84
FTSE100 has shown a nice recovery of more than 100 points from a low of 6035. The index lost more than 450 points on coronavirus spread and EU tariffs. California, Texas, and Florida hits a record number of cases and the total number rose by 37720. The short term trend is slightly bearish as long as resistance 6500 holds. It is currently trading around 6133.92.
The near-term resistance to be watched is 6156, and any violation above will take the index till 6200/6241. Significant trend continuation only if it crosses 6515.
The immediate support is around 6035 (200-4H MA), an indicative violation below targets 5900. Bearish continuation only if it breaks below 5891.
It is good to sell on rallies around 6150-55 with SL around 6241 for the TP of 5900.
