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FTSE100 faces strong support at 6000, break below targets 4875

Major intraday resistance – 6080 (hourly Kijun-Sen) Major support – 6000 (Mar 10th 2016 low) The index has broken minor support of 6048 (May 19th low) and declined till 6015 at the time of writing. Any violation below ma…

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FTSE100 faces strong support at 6000, break below targets 4875
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  • Major intraday resistance – 6080 (hourly Kijun-Sen)
     
  • Major support – 6000 (Mar 10th 2016 low)
     
  • The index has broken minor support of 6048 (May 19th low) and declined till 6015 at the time of writing.
     
  • Any violation below major support will drag the index down till 5875 (161.8% retracement of 6048 and 6323)/5845 (Feb 24th low).
     
  • On the higher side resistance is around 6080 and any indicative break above targets  6140/6200.
     
  • Overall bearish invalidation only above 6435 (Apr 21st high).

It is good to sell below 6000 with SL around 6080 for the TP of 4875/4845

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