Trade Pattern – 2618
FTSE100 has made double top around 6219-6204 level and retreated till 6006 yesterday. The index pulled back till 6138 (61.8% retracement of 6219 and 6006) at the time of writing and currently trading around 6132.
Short term trend is bearish as long as resistance 6205 holds.
Any break above 6220 will take the pair to next level till 6320/6348.
On the lower side minor support is around 6100 and break below targets 6040/6000.
It is good to sell on rallies around 6140-45 with SL around 6220 for the TP of 6010/5986
FTSE100 has made double top around 6219-6204 level and retreated till 6006 yesterday. The index pulled back till 6138 (61.8% retracement of 6219 and 6006) at the time of writing and currently trading around 6132.
Short term trend is bearish as long as resistance 6205 holds.
Any break above 6220 will take the pair to next level till 6320/6348.
On the lower side minor support is around 6100 and break below targets 6040/6000.
It is good to sell on rallies around 6140-45 with SL around 6220 for the TP of 6010/5986