TechnoMeter

Daily price is located below 100 day SMA/200 day SMA area for the bearish market condition: the price is ranging within 5541 support level and 6072 resistance level, and RSI indicator is estimating the ranging bearish condition to be continuing.

• If the price will break 6072 resistance level so the bullish reversal will be started.
• If price will break 5541 support so the bearish trend will be continuing.
• If not so the price will be ranging within the levels.

Resistance	Support
6072	5712
6463	5541

• "This highlights the particular link between the FTSE 100 and commodity prices, which are once again under pressure. This has caused the FTSE to slide below last Thursday’s low of 5887 and by doing so has potentially ended the bullish rally that was started on January 20."
• "The technical trend for today is neutral to bullish above the January 27 low of 5866. The FTSE may recuperate some of yesterday’s losses and reach the psychological level of 6000, while a break to 5866 should make it relatively straightforward for the index to reach the January 26 low of 5771."
• "A strong bounce in the Caixin China PMI Services takes it to 52.4 from 50.2, Japan PMI Services rose to 52.4 from 51.5, while German PMI Services declined to 55 from 55.4. These reports are strong and stock market supportive."

• Recommendation to go short: watch the price to break 5541 support level for possible sell trade
• Recommendation to go long: watch the price to break 6072 resistance level for possible buy trade
• Trading Summary: ranging

SUMMARY : ranging

TREND : bearish


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