FxWirePro: FTSE100 break trend line support at 7280, decline till 7000 likely
Major support – 7280 (trend line joining 6869 and 7087). Major resistance – 7360 FTSE100 has formed a temporary top around 7359 on Jan 16th 2017 and declined slightly from the high. The index broken trend line support at…
Major support – 7280 (trend line joining 6869 and 7087).
Major resistance – 7360
FTSE100 has formed a temporary top around 7359 on Jan 16th 2017 and declined slightly from the high.
The index broken trend line support at 7280 and declined till 7218 at the time of writing. It is currently trading around 7234.
On the lower side, any break below trend line support will drag the index down till 7130 (resistance turned into support)/7095 (38.2% retracement of 6678 and 7359)/7000.
Any break above temporary top will take the index till 7396/7451 (161.8% retracement 7359 and 7223).
It is good to sell on rallies around 7275-7280 with SL around 7360 for the TP of 7095/7000
