FTSE100 trades slightly above 10- day MA, jump till 6950 likely
Monday, September 19, 2016 7:45 AM UTC
- Major resistance – 6772 (10- day MA).
- Major support – 6610 (Aug 8th 2016 low).
- The index has recovered sharply from the low of 6692 made yesterday. It is currently trading around 6795.
- FTSE100 has broken 10- day MA and slight till 6930 (Sep 2nd high)/6956 (Aug 15th 2016 high) is possible.
- On the lower side, support stands at 6695 (55- day EMA) and break below will drag the index down till 6647 (Sep 13th low)/6488 (100-day MA).
It is good to sell on rallies around 6720-30 with SL around 6830 for the TP of 6610/6485