FTSE100: Sell on rallies
Major support – 7130 (resistance turned into support).
Major resistance – 7360
FTSE100 has broken major support at 20- day MA and declined till 7129 at the time of writing. It is currently trading around 7141.
The index is facing strong support at 7130 and any break below will drag the FTSE100 down till 7071/7032 (60- day EMA).
On the higher side, resistance is around 7186 (21-day MA) and any break above will take the index to next level till 7225/7268 (daily Tenken-Sen)/7300.
It is good to sell on rallies around 7145-55 with SL around 7200 for the TP of 7075/7000
Major resistance – 7360
FTSE100 has broken major support at 20- day MA and declined till 7129 at the time of writing. It is currently trading around 7141.
The index is facing strong support at 7130 and any break below will drag the FTSE100 down till 7071/7032 (60- day EMA).
On the higher side, resistance is around 7186 (21-day MA) and any break above will take the index to next level till 7225/7268 (daily Tenken-Sen)/7300.
It is good to sell on rallies around 7145-55 with SL around 7200 for the TP of 7075/7000
