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Short

FTSE100 faces strong support at 6150, break below targets 6049

FX:UK100   FTSE 100 index of UK listed shares
65 0 4
Major support- 6150 (61.8% retracement of 6048 and 6323 and also 200 day MA)

Major intraday resistance – 6200 (21 day MA)

The index has broken psychological support 6200 and declined till 6152 from that level. It is currently trading around 6164.

Short term trend reversal can be seen below 6150 and any break below targets 6108/6049 in the short term.

FTSE100’s next immediate resistance is at 6200 (21 day MA) and any indicative break above targets 6260/6310.

The minor trend reversal only above 6330 (217.2 % retracement of 6291 and 6149).

It is good to sell below 6150 with SL around 6201 for the TP of 6108/6049.
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