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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…

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FTSE100 breaks major support at 6800, decline till 6660 likely
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  • 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 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

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