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FTSE 100 in the balance
There is a sense of a trapdoor moment about the FTSE 100 today, with the index hovering above 6050 this morning. This is a key support area, which prevented further downside throughout May and even in late March/early April.
If this goes then the risk is that we see a swift move to 5900 or even down towards 5600. Intraday oversold conditions might lead to a bounce, but anything below 6200 should still be seen as a selling opportunity.