TipTVFinance

FTSE100 – Doors open for re-test of 6900 handle

TVC:UKX   FTSE 100
Resistance – 6862, 6900 ( trend line hurdle), 6955 (Aug 15 high)

Support – 6779 (Aug 25 low), 6654 (Sep 12 low), 6600

Prices closed above inverse head and shoulder neckline coupled with a bullish break in the daily RSI . This suggests the dips are likely to be bought into and the index is poised to test 6900 handle.

Trend line drawn from Aug 15 high and Sept 2 high comes around 6910 levels. A day end close above the same would open doors for 7K levels.

On the lower side, only a day end close below 5-DMA could yield a fresh sell-off to 6600.
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