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FTSE100 breaks major resistance at 5805, targets 6000

  • Major Resistance - 5805 (daily Ten ken-sen)
     
  • The index has broken major resistance 5805 and jumped till 5860 at the time of writing. It is currently trading around 5858.
     
  • Any break above 5805 confirms minor trend reversal, a jump till 5920/6000 is possible .
     
  • Short term trend is slightly bullish as long as support 5700 holds.
     
  • The major resistance is around 6000 and any break above 6000 will take the index to 6200/6285.
     
  • On the lower side any break below 5700 will drag the index till 5635/5595 level. The minor support is around 5800

It is good to buy at dips around 5800 with SL around 5700 for the TP of 5920/6000

 

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