FTSE100 faces strong support at 6080, good to buy at dips
Major support -6080 (trend line joining 6006 and 6067)
Major resistance – 6250
The index has recovered after making a low of 6075. It is currently trading around 6163.
Short term trend is slightly bullish as long as support 6080 holds. On the lower side minor support is around 6120 and break below targets 6080/6040/6000.
FTSE minor resistance is around 6175 and break above will take the index to next level around 6220/6250.Overall trend reversal can happen if it closes above 6250.
It is good to buy at dips around 6120-25 with SL around 6080 for the TP of 6180/6220.
Major resistance – 6250
The index has recovered after making a low of 6075. It is currently trading around 6163.
Short term trend is slightly bullish as long as support 6080 holds. On the lower side minor support is around 6120 and break below targets 6080/6040/6000.
FTSE minor resistance is around 6175 and break above will take the index to next level around 6220/6250.Overall trend reversal can happen if it closes above 6250.
It is good to buy at dips around 6120-25 with SL around 6080 for the TP of 6180/6220.