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FTSE100 faces strong resistance at 6055, decline till 5880 is possible

Major resistance -6055 (trend line joining 6322 and 6129) Major support - 5880 The index has broken minor resistance 6000 and jumped till 6054. It is currently trading around 5986. Short term trend is slightly bearish as…

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FTSE100 faces strong resistance at 6055, decline till 5880 is possible
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  • Major resistance -6055 (trend line joining 6322 and 6129)
     
  • Major support - 5880
     
  • The index has broken minor resistance 6000 and jumped till 6054. It is currently trading around 5986.
     
  • Short term trend is slightly bearish as long as resistance 6055 holds.
     
  • On the higher side any break above 6055 will take the index to next level around 6125/6154.
     
  • The index minor support is around 4960 and break below targets 4625/4880.

It is good to sell on rallies around 6000-6010 with SL around 6055 for the TP of 5885

 

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