Monday 25 February 2019

FTSE100: 7202 cloud chart resistance rermains in place for now!

FTSE100: 7202 cloud chart resistance remains in place for now!

Need to see a sustained breakout past the cloud chart resistance zone of 7202!

Consolidation downside risk remain in place to front end cloud chart support level of 7080 and the base line support at 6997!

Resistance to the upside is at the bottom end of the weekly cloud chart 7385, but for FTSE100 to get there we need to see a breakout past daily chart resistance of 7202!

Big picture, price action is still below the cloud chart and that is bearish long-term!

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