Ichimoku Analysis (4-hour chart)
Tenken-Sen- 6013
Kijun-Sen- 6062
FTSE100 continues to trade weak for 3rd consecutive days and lost more than 200 points from high of 6177. The slight strength in Pound sterling against USD on broad-based US dollar selling and Brexit deal uncertainty is putting pressure on the FTSE100 index. S&P is trading slightly higher and currently trading around 3494.9.
The near-term resistance to be watched is 6065, any violation above will take the index till 6100/6175/6200/6263/6300. Significant bullish trend continuation only if it crosses 6350.
The immediate support is around 5925, any indicative violation below targets 5850/5800. Bearish continuation only if it breaks below 5800.
It is good to sell on rallies around 6000 with SL around 6100 for the TP of 5800.
