FxWirePro: FTSE100 faces strong resistance at 200 day HMA, good to sell on rallies

• Major Intraday resistance- 6305 (200 day MA)
   
• Major intraday support -6240 (trend line joining 6260 and 6248)
   
• FTSE100 has made a low of 6248 yesterday and slightly recovered till 6298 from that level. It is currently trading 6270.
   
• The index major resistance is around 6305 (200 day MA) and any break above will take the index till 6345/6361 (61.8% retracement of 6433 and 6248)/6412.
   
• On the lower side any break below 6240 will drag the index down till 6200/6165/6100.
• StochRsi-Sell

It is good to sell on rallies around 6300-6305 with SL around 6350 for the TP of 6205/6165