Ichimoku Analysis (4-hour chart)
Tenken-Sen- 5976
Kijun-Sen- 6033
FTSE100 continues to trade lower on the strong pound sterling. The broad-based US dollar selling and a slight improvement in the UK are supporting the pound sterling. The new tax rules and Brexit uncertainty is putting pressure on the FTSE index. S&P is trading slightly higher and currently trading around 3500.
The near-term resistance to be watched is 6000, any violation above will take the index till 6065/6100/6175. Significant bullish trend continuation only if it crosses 6350.
It is good to sell on rallies around 6000 with SL around 6100 for the TP of 5800.
