- FTSE 100 is trying to stay above the resistance zone Broken recently. Now FTSE Bulls are hoping that the previous resistance zone(7080 - 7100) may act as support
- Weekly candlestick suggests Bears engulfing previous bullish candle. Further weakness only if the above mentioned zone is broken and closed below.
- Current weakness is seen after negative divergence as shown in last chart with Price and MACD.
January 24, 2017
- Weakness in daily only on closing below 200 SMA and the GAP area.
- Hourly weakness starts on sustaining below the cloud.
- Strength only on closing into or above 8400 - 8460 zone. the Upper shadows of weekly candles formed from this zone shows possible resistance zone for now. Bulls need a weekly close above this level.
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