FXWIREPRO: FTSE100 Faces Strong Resistance at 6225, Good to Sell on Rallies

FXWIREPRO: FTSE100 Faces Strong Resistance at 6225, Good to Sell on Rallies

11 April 2016, 10:40
Roberto Jacobs
0
7

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



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