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FTSE 100 fails to recover ground
Yet again the area around 6080 held the index up, as it had done on 29 March and 1 April. However, the overnight bounce failed to recover much ground, and with the daily RSI trending lower it looks as if bounces will continue to be sold.
A break below the 6070/6080 area would push the index on towards 6000 and the ECB-day low, with a bigger drop pushing us back down towards 5917 and the third weekly support level. A bounce needs to clear 6150 to raise the prospect of yet another move towards 6220.