FxWirePro:FTSE100 capped by 50 –day MA, good to sell on rallies
Major support – 7180 (50- day MA) Major resistance- 7322 FTSE100 has taken support near 50- day MA and jumped sharply from that level. The index temporary top is around 7322 and any break above confirms major bullishness…
FTSE100 has taken support near 50- day MA and jumped sharply from that level. The index temporary top is around 7322 and any break above confirms major bullishness. It is currently trading around 7261.
On the lower side, any break below 7180 will drag the index down till 7145 (Feb 8th 2017)/7090 (Feb 2nd 2017 low).
Any break above temporary top at 7322 confirms further bullishness, a jump till 7369 (161.8% retracement of 7322 and 7253)/7400.
It is good to buy on dips around 7225-7230 with SL around 7180 for the TP of 7322.
