FTSE100 struggles to close above 6200, good to sell on rallies
Major resistance -6220
Major support -6100 (trend line joining 5494 and 5628)
FTSE100 has retreated after making a high of 6219. It is currently trading around 6161.
Short term trend is slightly weak as long as resistance 6220 holds.
Any break above 6220 will take the index to next level 6300/6325 ins short term.
On the lower side major support is around 6100 and break will drag the index down till 6040/6000/5945.
It is good to sell on rallies around 6165-6170 with SL around 6220 for the TP of 6045
Major support -6100 (trend line joining 5494 and 5628)
FTSE100 has retreated after making a high of 6219. It is currently trading around 6161.
Short term trend is slightly weak as long as resistance 6220 holds.
Any break above 6220 will take the index to next level 6300/6325 ins short term.
On the lower side major support is around 6100 and break will drag the index down till 6040/6000/5945.
It is good to sell on rallies around 6165-6170 with SL around 6220 for the TP of 6045
