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FTSE100 faces strong support at 6100, break below targets 6000

  • Major support - 6100
     
  • Minor resistance - 6160 (trend line joining 6218 and 6195)
     
  • The index is consolidating in narrow range between 6218 and 6100 for the past five trading session. It is currently trading around 6135.
     
  • Any break below 6100 confirms minor weakness, decline till 6040/6000 is possible.    
  • On the higher side minor resistance is around 6160 and break above targets 6220/6325 in short term.
     
  • Overall bearish invalidation only below 5840.

It is good to sell below 6100 with SL around 6150 for the TP of 6035/6000

 

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