FTSE100 trades above 7000 level, jump till 7300 likely

• Major resistance- 7000 (PschycPsychological).
   
• Major support – 6880 (9 day EMA).
   
• The index breaks major pschycological level 7000 and jumped sharply till 7039 at the time of writing. Any break above 7000 confirms major bullishness, a jump till 7147/7306.
   
• The index is trading well above daily Tenkan-Sen (6880) and Kijun-Sen (6821). Any break below daily Tenkan-Sen (6880) will drag the index down till 6820 (daily Kijun-Sen)/6765 (55- day EMA). Short term weakness can be seen if it closes below 55- day EMA.
   
• On the higher side, any break above 7000 will take the index till 7000/7147 (161.8% retracement of 6956 and 6646) level/7303 (1.13% retracement of 7122 and 5870).

It is good to buy on dips around 7000 with SL around 6880 for the TP of 7147/7300.