FxWirePro: FTSE100 Faces Strong Resistance at 200 WMA, Good to Sell on Rallies

FxWirePro: FTSE100 Faces Strong Resistance at 200 WMA, Good to Sell on Rallies

• Major resistance- 6430 (200 W MA) 
• Major support – 6296 (55 W EMA) 
• The index has made a high of 6471 yesterday and started to decline from that level . It is currently trading around 6375. 
• Overall trend is slightly weak as long as index not closes above 6430 (200 day MA) level. 
• FTSE100 major support is around 6296 and break below targets 6230/6180/6110 in short term. 
• On the upside major resistance is around 6430 and break above will take the index to next level around 6500/6560 level.
  

It is good to sell on rallies around 6375-80 with SL around 6440 for the TP of 6229/6180.

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