FTSE100 breaks major support at 6800, decline till 6660 likely
Major resistance – 6956 (Aug 15th 2016 high). Major support – 6800 The index has declined till 6779 and slightly recovered from that level. It is currently trading around 6810. Any break below 6800 confirms minor weaknes…
The index has declined till 6779 and slightly recovered from that level. It is currently trading around 6810.
Any break below 6800 confirms minor weakness and slight bullishness can be seen only above 6860 (10-day MA). Any break above 10-day MA will take the index to next level till 5955/6000.
On the lower side, support stands at 6800 and break below will drag the index down till 6730 (34- day EMA)/6668 (23.6% retracement of 5727 and 6956).
It is good to sell on rallies around 6825-6830 with SL around 6880 for the TP of 6730/6670