FxWirePro: FTSE100 upside capped by 9- day EMA, good to sell on rallies
Thursday, September 15, 2016 6:44 AM UTC
- Major resistance – 6757 (9- day EMA).
- Major support – 6610 (Aug 8th 2016 low).
- The index has retreated from the high of 6721 made yesterday. It is currently trading around 6664.
- FTSE100 is facing major resistance at 6757 (9- day EMA). Any break above 6757 will take the index to next level till 6830 (21- day MA)/6930 (Sep 2nd high).
- On the lower side, support stands at 6610 and break below will drag the index down till 6480 (100-day MA)/6340.
It is good to sell on rallies around 6720-30 with SL around 6830 for the TP of 6610/6485