hilsdentrading
Long

6655 low may hold, 6705 support, 6795 resistance

TVC:UKX   FTSE 100
The key now will be if the lows yesterday hold and the bulls can get a rise back up. However, since we rose yesterday the short term charts are still weakly bullish , whilst the daily charts are not, showing decent resistance at the 6795 area, where we have the 25ema on the daily chart , and also the R1 level. The bulls will be keen to hold the 6700 area if we get that low this morning, though we do have the pivot for initial support at 6710, though it looks weak to start with.

The 2 hour chart has gone onto weak bull though not showing any ideal entry level, whilst the 30min chart has 6700 and 6677 as support. Going to be another interesting day ahead I think. For further upside the bulls will need to break the 6810 area, which opens up the chance for 6900 again. But it does look weaker to me and there is more likelihood of testing some lower levels, possibly 6600 in the near term. I am watching that 6795 area quite closely today for resistance, and 6700 for support.
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