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.
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.