FXWIREPRO: FTSE100 Faces Strong Resistance at 6225, Good to Sell on Rallies
- Major support -6080 (trend line joining 6006 and 6060)
- Major resistance – 6225 (200 day MA)
- The index has once again retreated after making a high of 6217. It is currently trading around 6169.
- Short term trend is slightly weak as long as resistance 6225 holds. On the higher side any close above 6225 will take the index to next level till 6275/6325 in short term.
- FTSE minor support is around 6160 and break below will drag the index to next level around 6120/6080/6060.Overall trend reversal can happen if it closes above 6225.
It is good to sell on rallies around 6200 with SL around 6225 for the TP of 6120/6080.
The material has been provided by InstaForex Company - www.instaforex.com