FTSE100: Sell on rallies

• Major resistance – 6700 (4H Kijun-Sen).
   
• Major support – 6620 (90 day EMA).
   
• The index has broken major support at 6620 and declined till 6611 at the time of writing. It is currently trading around 6614.
   
• The intraday trend is weak as long as resistance 6700 holds. Any break above 6700 will take the index to next level till 6760/6780 level.
   
• On the lower side, any break below 6620 will drag the index down till 6550/6500.
   
• Short term bearish invalidation only above 6780.

It is good to sell on rallies around 6640-6650 with SL around 6780 for the TP of 6510/6420