Daily Chart
Pattern – Rising trend line breached
Resistance – 6214, 6230, 6270
Support – 6186, 6119, 6079
Pattern – Rising trend line breached
Resistance – 6214, 6230, 6270
Support – 6186, 6119, 6079
- Prices trade around 200-DMA level of 6186 levels.
- FTSE’s failure to sustain above 5-DMA followed by a drop below 6230 and 6214 (rising trend line) indicates short-term bullish invalidation and increased risk of a daily close below 200-DMA Level of 6186 levels.
- A daily close today below 200-DMA of 6186 would open doors for a drop to 6091 (sideways channel support).
- On the higher side, a break above 6230 is required to bring back bulls into the market.
