FTSE 100 – Sell on rise is the call

The rising trendline has come to the rescue… but still the rebound looks more like a technical pull back. The chart below shows head and shoulders breakdown. The neckline will now offer resistance around 7365. the index is likely to crowd out weak bears by peeping above 7365.

I would want to sell around 7380. The 50-MA and 100-MA are still rising so the fresh sell-off from 7365 could be restricted around 7300-7280. Only a daily close below the rising trend line would entice technical bears…




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