FxWirePro: FTSE100 upside capped by 9- day EMA, good to sell on rallies
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…
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
