FTSE 100 Index Long-Term Technical Analysis: watch for key levels to be broken for direction

FTSE 100 Index Long-Term Technical Analysis: watch for key levels to be broken for direction

1 December 2015, 18:11
Sergey Golubev
0
900

The price is located near 200 period SMA (200 SMA) on the border between the primary bearish and the primary bullish trend on the chart within the following support/resistance levels:

  • 6463 resistance level located between 100 SMA and 200 SMA on the ranging area of the chart, and
  • 5758 support level located below 100 SMA/200 SMA in the primary bearish area of the chart.


RSI indicator is estimating the secondary ranging market condition.


  • If the price will break 6463 resistance level so the bullish reversal will be started.
  • if price will break 5758 support so the primary bearish market condition will be continuing.
  • if not so the price will be ranging within the levels.
Resistance
 Support
64636057
7026
5758
7072
N/A
The Long-Term Strategy: watch close price to break 6463 resistance level for possible buy trade. Alternateve - watch price to break 5758 support level for possible sell trade
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