FTSE100 faces strong resistance at 6210, good to sell on rallie
Major resistance – 6210 (trend line joining 6874 and 6764)
Major support – 6080
The index has retreated after making a high of 6209. It is currently trading around 6123.
Short term trend is weak as long as resistance 6210 holds.
On the higher side any break above 6210 will take the index to next level 6280/6325
Any break below 6080 confirms minor weakness, a decline till 6050/6000 is possible
It is good to sell on rallies around 6160-65 with SL around 6209 for the TP of 6085/6055
Major support – 6080
The index has retreated after making a high of 6209. It is currently trading around 6123.
Short term trend is weak as long as resistance 6210 holds.
On the higher side any break above 6210 will take the index to next level 6280/6325
Any break below 6080 confirms minor weakness, a decline till 6050/6000 is possible
It is good to sell on rallies around 6160-65 with SL around 6209 for the TP of 6085/6055