FxWirePro: FTSE100 recovers from the low of 7104, good to sell on rallies
Major support – 7130 (resistance turned into support) Major resistance – 7210 (10- day MA) FTSE100 breaks major support at 7130 and declined till 7104 yesterday. It is currently trading around 7154. The index is still we…
Major support – 7130 (resistance turned into support)
Major resistance – 7210 (10- day MA)
FTSE100 breaks major support at 7130 and declined till 7104 yesterday. It is currently trading around 7154.
The index is still weak as long as resistance 7217 (21- day MA) and slight bullishness only above that level.
On the higher side, resistance is around 7187 (daily Kijun-sen) and any break above 7187 will take the index till 7217 (21- day MA) / 7265 (61.8% retracement of 7359 and 7116)/7300.
Overall trend reversal only above 7360 level.
It is good to sell on rallies around 7165-7170 with SL around 7218 for the TP of 7075/7000
