Ichimoku Analysis (1-hour chart)
Tenken-Sen- 6089
Kijun-Sen- 6128
FTSE100 showed a minor recovery of more than 100 points despite weak unemployment data. The Bank of England has forecasted a jobless of 2.5m by Christmas. Markets eye UK and EUE negations on Brexit this week for further direction. The S&P futures are trading slightly higher and currently trading around 3371.
The near-term resistance to be watched is 6140 and any violation above will take the index till 6170/6200. Significant trend continuation only if it crosses 6352.
The immediate support is around 6000, any indicative violation below targets 5980/5925/5850. Bearish continuation only if it breaks below 5800.
It is good to sell on rallies around 6095-6100 with SL around 6170 for the TP of 5800.
