FTSE100 breaks major support at 6680, decline till 6400 likely
Major resistance- 6780 (Jul 27th high)
The index has broken major support 6680 (55 4H EMA) and declined till 6664 at the time of writing It is currently trading around 6665.
Short term bullishness can be seen only if FTSE100 breaks above 6780.
On the higher side, any break above around 6780 will take the index to 6814 (161.8% retracement of 6743 and 6610)/6850.
The minor support is around 6680 (55 4H EMA) and any close below targets 6610 (Jul 15th low/6400 (200 4H MA).
It is good to sell on rallies around 6675-6680 with SL around 6780 for the TP of 6610/6400
The index has broken major support 6680 (55 4H EMA) and declined till 6664 at the time of writing It is currently trading around 6665.
Short term bullishness can be seen only if FTSE100 breaks above 6780.
On the higher side, any break above around 6780 will take the index to 6814 (161.8% retracement of 6743 and 6610)/6850.
The minor support is around 6680 (55 4H EMA) and any close below targets 6610 (Jul 15th low/6400 (200 4H MA).
It is good to sell on rallies around 6675-6680 with SL around 6780 for the TP of 6610/6400