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FTSE outlook less positive
The failure to push on past 6400 makes the outlook less optimistic for the time being. With the index testing the lows of Friday’s session around 6348, a move to 6320 would suggest that the upward move has come to an end. Downside targets would then lie around 6280 and onwards to 6220. Unless the sharp drop early on today is reversed we may see bearish momentum build. It would take a move through 6400 to reverse the outlook.