Ichimoku Analysis (Daily chart)
Tenken-Sen- 5890
Kijun-Sen-5890
FTSE100 is trading higher for the ninth consecutive days and jumped more than 760 points on positive global cues. US markets surged sharply and hits an all-time high after Biden elected as 46th US President. The slight optimism in Brexit and better than expected UK jobless claims data. The UK Oct jobless claims came at -29.8K vs +36K expected and UK wages rose by 1.9% YoY vs forecast of 1.5%. The index hits an intraday high of 6279 and currently trading around 6260.
The near-term resistance to be watched is 6302; any violation above will take the index till 6352/6400. Significant bullish trend continuation only if it crosses 6352. On the lower side, near term support is around 6180, and any violation below targets 6100/6000.
It is good to buy on dips around 6200 with SL around 6135 for the TP of 6350
