Ichimoku Analysis (4-hour chart)
Tenken-Sen- 6192
Kijun-Sen- 6213
FTSE100 is trading weak for 4th consecutive days on US-China trade tension and an increase in coronavirus cases. China retaliated to US closure of the Houston consulate general. The US jobless claims rose more than expected for the first time four months and have increased the chance of a recession in the United States. The S&P futures are trading weak and lost nearly 0.50% from yesterday's close.
The near-term resistance to be watched is 6187, and any violation above will take the index till 6245/6282. Significant trend continuation only if it crosses 6352.
The immediate support is around 6080 (trend line support), an indicative violation below targets 6035/6000/5900. Bearish continuation only if it breaks below 5891.
It is good to sell on rallies around 6185-90 with SL around 6285 for the TP of 5935.
