FxWirePro: FTSE100 Faces Strong Resistance at 200 Day HMA, Good to Sell on Rallies
- Major Intraday resistance- 6305 (200 day MA)
- Major intraday support -6240 (trend line joining 6260 and 6248)
- FTSE100 has made a low of 6248 yesterday and slightly recovered till 6298 from that level. It is currently trading 6270.
- The index major resistance is around 6305 (200 day MA) and any break above will take the index till 6345/6361 (61.8% retracement of 6433 and 6248)/6412.
- On the lower side any break below 6240 will drag the index down till 6200/6165/6100.
It is good to sell on rallies around 6300-6305 with SL around 6350 for the TP of 6205/6165
The material has been provided by InstaForex Company - www.instaforex.com