FTSE drops to 100-SMA as anticipated
Support – 6061.85, 6036.70, 5933.23
Resistance – 6100, 6178, 6200
Resistance – 6100, 6178, 6200
- Following a breach of rising trend line earlier this week, FTSE has steadily extended losses below 200-DMA to test 6080 (100-SMA today).
- Daily RSI, at 35.00, shows there room for further downside move.
- Traders should watch out for a daily close below 6036.70, as it would open doors for cut through buyers around psychological figure of 6000.
- Short-term loss of momentum and sideways action cannot be ruled out as well.
- Bearish invalidation is seen only above 200-DMA level.
