FTSE100 faces resistance around 6200, good to sell on rallies
Major resistance - 6200
Major support - 6090
The index has retreated after making a high of 6158 at the time of writing . It is currently trading around 6126.
Intraday minor resistance is around 6160 and break above targets 6200. Any break above 6200 confirms minor intraday trend reversal and jump till 6240/6275 is possible.
Short term bearish invalidation only above 6240 .
On the lower side major support is around 6090 and break below targets 6040/6000.
It is good to sell on rallies around 6140-45 with SL around 6201 for the TP of 6040/6010
Major support - 6090
The index has retreated after making a high of 6158 at the time of writing . It is currently trading around 6126.
Intraday minor resistance is around 6160 and break above targets 6200. Any break above 6200 confirms minor intraday trend reversal and jump till 6240/6275 is possible.
Short term bearish invalidation only above 6240 .
On the lower side major support is around 6090 and break below targets 6040/6000.
It is good to sell on rallies around 6140-45 with SL around 6201 for the TP of 6040/6010