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Short

FTSE100 struggles to close above 6200, good to sell on rallies

FX:UK100   FTSE 100 Index
68 0 4
Major Resistance – 6240

Major support – 6100

FTSE100 has retreated once again after making a high of 6217 yesterday. It has closed around 6170.

Short term trend is slightly weak as long as resistance 6240 holds.

On the lower side minor support is around 6140 and any break below 6140 will drag the index down till 6100/6040 in short term.

Short term trend reversal only below 6000.

Any break above major resistance 6240 will take the index to next level 6275/6325.

It is good to sell on rallies around 6190-6200 with SL around 6240 for the TP of 6100/6010.

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