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FxWirePro: FTSE100 faces strong resistance around 6000, good to sell on rallies

The index has made a high of 5953 and retreated from that level. It is currently trading around 5874 . Short term trend is slightly weak as long as resistance 6000 holds. The major resistance is around 6000 and any break…

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FxWirePro: FTSE100 faces strong resistance around 6000, good to sell on rallies
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The index has made a high of 5953 and retreated from that level. It is currently trading around 5874 .

  • Short term trend is slightly weak as long as resistance 6000 holds.
     
  • The major resistance is around 6000 and any break above 6000 will take the index to 6200/6285.
     
  • On the lower side any break below 5800 will drag the index till 5740/5700 level. The minor support is around 5850.

It is good to sell on rallies around 5920-25 with SL around 6000 for the TP of 5800/5705.

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