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

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

27 April 2016, 09:45
Roberto Jacobs
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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.
  • StochRsi-Sell


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



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