FTSE 100 - Bullish price RSI divergence..but
Resistance - 5990, 6004, 6040
Support - 5958, 5906, 5863
Bullish price RSI divergence seen on the hourly chart would gain credence only if prices break above 6004 (23.6% of 6232-5906) on hourly closing basis. Such a move would indicate a short-term bottom is in place at 596 levels.
On the other hand, failure to take out 6004 followed by a drop below 5906 would strengthen bears and open doors for a slide to 5863-5800 levels
Support - 5958, 5906, 5863
Bullish price RSI divergence seen on the hourly chart would gain credence only if prices break above 6004 (23.6% of 6232-5906) on hourly closing basis. Such a move would indicate a short-term bottom is in place at 596 levels.
On the other hand, failure to take out 6004 followed by a drop below 5906 would strengthen bears and open doors for a slide to 5863-5800 levels
