Major support – 7180 (23.6% retracement of 6606 and 7359)
Major resistance – 7360
FTSE100 has broken minor psychological support 7200 and declined till 7190 yesterday.it is currently trading around 7209.
The index is facing strong support at 23.6%fibo and any break below confirms minor weakness.
On the lower side, major support is at 7180 and any close below that level will drag the index down till 7130 (resistance turned into support)/7071/7000.
The minor resistance is around 7260 (38.2% retracement of 7359 and 7190) and any break above temporary top will take the index till 7300/7359 (Jan 16th high).
It is good to sell below 7180 with SL around 7260 for the TP of 7075/7000.
Major resistance – 7360
FTSE100 has broken minor psychological support 7200 and declined till 7190 yesterday.it is currently trading around 7209.
The index is facing strong support at 23.6%fibo and any break below confirms minor weakness.
On the lower side, major support is at 7180 and any close below that level will drag the index down till 7130 (resistance turned into support)/7071/7000.
The minor resistance is around 7260 (38.2% retracement of 7359 and 7190) and any break above temporary top will take the index till 7300/7359 (Jan 16th high).
It is good to sell below 7180 with SL around 7260 for the TP of 7075/7000.
