TipTVFinance

FTSE100 – eyes 7K if daily close is above 6900

TVC:UKX   FTSE 100
At the time of writing, the index was trading around 6930. The trend line resistance at 6900 is now a strong support.
The index needs to end the day above 6930 in which case 7K level could be put to test.

The hourly and 4-hr RSI is overbought now, hence a minor pull back to 6900 cannot be ruled out. However, fresh demand around 6900 is likely and on a larger scheme of things the index appears poised to test 7K levels.
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