FxWirePro
Long

FTSE100 trades slightly above 10- day MA, jump till 6950 likely

FX:UK100   The FTSE 100 Index
70 0 2
Major resistance – 6772 (10- day MA).

Major support – 6610 (Aug 8th 2016 low).

The index has recovered sharply from the low of 6692 made yesterday. It is currently trading around 6795.

FTSE100 has broken 10- day MA and slight till 6930 (Sep 2nd high)/6956 (Aug 15th 2016 high) is possible.

On the lower side, support stands at 6695 (55- day EMA ) and break below will drag the index down till 6647 (Sep 13th low)/6488 (100-day MA).

It is good to buy on dips around 6775-6780 with SL around 6695 for the TP of 6930/6955
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