UK100 - Momentum stalling near resistance

UK100 - Intraday - We look to Sell at 6320 (stop at 6360)

Prices spiked higher and stalled at resistance in early trade. Further selling pressure led to a reversal in price action. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. Expect trading to remain mixed and volatile. We look for a temporary move lower. Preferred trade is to sell into rallies.
Our profit targets will be 6200 and 6160

Resistance: 6320 / 6350 / 6400
Support: 6230 / 6200 / 6160

Trade chiuso: obiettivo raggiunto:

This took longer than the intraday time-frame to play out but got to target eventually