Major resistance – 6180 (200 day 4 H EMA)
Candle stick pattern formed- Hanging man
FTSE100 slightly recovered till 6158 after making a low of 6053 .The index is facing immense selling pressure on higher levels mostly near 6180-6200 (200 day MA)
It should close above 6200 for further upside and is currently trading around 6150.
On the lower side any break below 6100 will drag the index down till 6065/6005.The index should break below 6000 for further weakness.
Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.
It is good to buy at dips around 6100-6110 with SL around 6050 for the TP of 6200/6282.
Candle stick pattern formed- Hanging man
FTSE100 slightly recovered till 6158 after making a low of 6053 .The index is facing immense selling pressure on higher levels mostly near 6180-6200 (200 day MA)
It should close above 6200 for further upside and is currently trading around 6150.
On the lower side any break below 6100 will drag the index down till 6065/6005.The index should break below 6000 for further weakness.
Short term trend reversal only above 6300. The major resistance for the day is around 6200/6258/6300.
It is good to buy at dips around 6100-6110 with SL around 6050 for the TP of 6200/6282.