FxWirePro: FTSE100 forms Bearish Gartley Pattern, good to sell on rallies
Major resistance -7130. Major support – 6925. UK index takes support near 6935 and started to jump from that level. It is currently trading around 6992. On the higher side, 7035 is acting as minor resistance and any brea…
UK index takes support near 6935 and started to jump from that level. It is currently trading around 6992.
On the higher side, 7035 is acting as minor resistance and any break above targets 7055 (61.8% retracement of 7130 and 6928)/7130 in the short term.
The immediate support stands at 6930 (61.8% retracement of 6809 and 7130) and any break below will drag the index down till 6885/6827 (61.8% retracement of 6646 and 7129).
Overall trend reversal only below 6600 level.
It is good to sell on rallies around 7075-7080 with SL around 7131 for the TP of 6928/6830.
