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FTSE 100 eyes 6200
Yesterday’s sharp drop took the index to its lowest level since mid-November. A small bounce overnight puts the index back on course for resistance around 6200, and if this is broken we can look towards targets at 6200 and then 6220.
Further downward moves will hit the bottom end of the daily rising channel around 6095, at which point we will see whether the index can repeat the feat of 16 November, when it bounced strongly.
If the bottom end of the channel is broken then support at 5960 will become the next target, followed by 5900.