Ichimoku Analysis (4-hour chart)
Tenken-Sen- 6032
Kijun-Sen- 6076
FTSE100 recovered more than 150 points from a low of 5949 on positive global cues. The weakness in Pound sterling due to Brexit pessimism and lockdown in Birmingham. The increase in risk appetite came after USA drug regulator has authorized the use of blood plasma recovered from Corona. S&P is trading slightly higher and currently trading around 3416.
The near-term resistance to be watched is 6160, any violation above will take the index till 6200/6263/6300. Significant bullish trend continuation only if it crosses 6350.
The immediate support is around 6065, any indicative violation below targets 6000/5950/5925/5850. Bearish continuation only if it breaks below 5800.
It is good to sell on rallies around 6125-30 with SL around 6180 for the TP of 5800.
