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FTSE 100 - strong support around 6072

FX:UK100   FTSE 100 Index
Support - 6072, 6050, 6036.70

Resistance - 6100, 6155, 6180

Upbeat UK data did little to help FTSE avoid/reverse losses as markets are focused on the possibility of Fed rate hike in June.

  • A break below 6072 (daily 100-SMA and 38.2% of Feb low - Apr high) would expose head and shoulder neckline level around 6050.
  • A day end closing below 6050 could open doors for a drop to 50% Fibo at 5963 levels, given the daily RSI is still away from oversold territory.
On the higher side, only a break above falling trend line would signal a temporary low has been made.

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