FTSE100 trades well above 6625, jump till 6866 likely
Major resistance- 6625 (127.2% retracement of 6431 and 5727)
The index has broken major resistance around 6625 and jumped till 6696. It is currently trading around 6676.
Minor term trend is slightly bullish as long as support 6513 (7 day EMA) holds.
On the higher any break above 6625 confirms minor bullishness, a jump till 6866 is possible.
The minor weakness can be seen only below 6512 and any violation below targets 6465/6405 in the short term.
Short term trend reversal only below 6430 (Jul 6th low).
It is good to buy at dips around 6635-6640 with SL around 6513 for the TP of 6865
The index has broken major resistance around 6625 and jumped till 6696. It is currently trading around 6676.
Minor term trend is slightly bullish as long as support 6513 (7 day EMA) holds.
On the higher any break above 6625 confirms minor bullishness, a jump till 6866 is possible.
The minor weakness can be seen only below 6512 and any violation below targets 6465/6405 in the short term.
Short term trend reversal only below 6430 (Jul 6th low).
It is good to buy at dips around 6635-6640 with SL around 6513 for the TP of 6865
