FTSE100 trades slightly above 10- day MA, jump till 6950 likely
Major resistance – 6772 (10- day MA).
Major support – 6610 (Aug 8th 2016 low).
The index has recovered sharply from the low of 6692 made yesterday. It is currently trading around 6795.
FTSE100 has broken 10- day MA and slight till 6930 (Sep 2nd high)/6956 (Aug 15th 2016 high) is possible.
On the lower side, support stands at 6695 (55- day EMA) and break below will drag the index down till 6647 (Sep 13th low)/6488 (100-day MA).
It is good to buy on dips around 6775-6780 with SL around 6695 for the TP of 6930/6955
Major support – 6610 (Aug 8th 2016 low).
The index has recovered sharply from the low of 6692 made yesterday. It is currently trading around 6795.
FTSE100 has broken 10- day MA and slight till 6930 (Sep 2nd high)/6956 (Aug 15th 2016 high) is possible.
On the lower side, support stands at 6695 (55- day EMA) and break below will drag the index down till 6647 (Sep 13th low)/6488 (100-day MA).
It is good to buy on dips around 6775-6780 with SL around 6695 for the TP of 6930/6955