FTSE100 faces strong support at 6150, break below targets 6049

• Major support- 6150 (61.8% retracement of 6048 and 6323 and also 200 day MA)
   
• Major intraday resistance – 6200 (21 day MA)
   
•  The index has broken psychological support 6200 and declined till 6152 from that level. It is currently trading around 6164.
   
• Short term trend reversal can be seen below 6150 and any break below targets 6108/6049 in the short term.
   
• FTSE100’s next immediate resistance is at 6200 (21 day MA) and any indicative break above targets 6260/6310.
   
• The minor trend reversal only above 6330 (217.2 % retracement of 6291 and 6149).

It is good to sell below 6150 with SL around 6201 for the TP of 6108/6049.