FTSE110 Struggles to Break Above 6200, Targets 6065/6005

FTSE110 Struggles to Break Above 6200, Targets 6065/6005

4 May 2016, 12:35
Roberto Jacobs
0
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FTSE110 Struggles to Break Above 6200, Targets 6065/6005

  • Major resistance - 6200 (200 day MA) 
  • FTSE100 slightly recovered till 6211 yesterday after making a low of 6158.The index is facing immense selling pressure on higher levels mostly near 5200 (200 day MA) 
  • It should close above 6200 for further upside and is  currently trading around 6131. 
  • On the lower side any break below 6150 will drag the index down till 6100/6065/6005. 
  • Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.

It is good to sell on rallies around 6150-6155 with SL around 6200 for the TP of 6065/6005

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