FTSE100 is trading extremely weak in past two days and lost more than 150 points on political uncertainty and global sell-off. The index formed temporary top around 7529 and lost more than 5%. till 7149. It hits intraday low of 7160 and is currently trading around 7160.
FTSE100 is trading well below 300- day EMA at 7245 and has broken major support 7177 (200-day MA). Now next major level to be watched is 7149 low made on May 13th 2019. Any break below confirms minor trend reversal and a decline till 7075/7040 is possible.
The near term major resistance is around 7245-50 and any convincing break above targets 7317 high made yesterday and any violation above will take the index till 7365-7370.
It is good to sell on rallies around 7185-90 with SL around 7245 for the TP of 7045.
