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FTSE weakening from crucial resistance level
The FTSE rallied into the key 7555 resistance level yesterday, with the price turning lower as a result. The ability or inability to break through that key resistance level is going to be a major determinant of the price action as the week goes on.
While we can see that the price has broken through trendline support, the most important thing is whether we see an hourly close below 7479 or above 7555. The resolution of that current zone of trade is going to set the precedent going forward.