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.