FTSE100 : Sell below breakout
Major support – 6100
Minor resistance – 6160 (trend line joining 6218 and 6195)
The index is consolidating in narrow range between 6218 and 6100 for the past five trading session. It is currently trading around 6135.
Any break below 6100 confirms minor weakness, decline till 6040/6000 is possible.
On the higher side minor resistance is around 6160 and break above targets 6220/6325 in short term.
Overall bearish invalidation only below 5840.
It is good to sell below 6100 with SL around 6150 for the TP of 6035/6000
Minor resistance – 6160 (trend line joining 6218 and 6195)
The index is consolidating in narrow range between 6218 and 6100 for the past five trading session. It is currently trading around 6135.
Any break below 6100 confirms minor weakness, decline till 6040/6000 is possible.
On the higher side minor resistance is around 6160 and break above targets 6220/6325 in short term.
Overall bearish invalidation only below 5840.
It is good to sell below 6100 with SL around 6150 for the TP of 6035/6000
