Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 5883
Kijun-Sen- 5953
FTSE100 declined sharply after showing a minor jump above the 6000 levels. The decline came after the US Fed chairman's opinion about economic recovery and dismal US jobless claims data. Markets also worried about the second wave of coronavirus
On the higher side, near term resistance is around 5858 (55-4H EMA) and violation beyond will take the index till 5895/5946/. Bullish Persistence only past 6025. The immediate support is around 5800, indicative violation below targets 5747/5700. Bearish continuation only if it breaks below 7650.
It is good to sell on rallies around 5855-60 with SL around 5920 for the TP of 5725.
