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FTSE 100 recovering after sharp sell-off
The FTSE 100 fell sharply yesterday, with the price breaking below the notable 7473 swing low. This confuses things a little. We saw the price fall into the 76.4% retracement, and has been recovering ever since.
Whether this is a retracement before we sell-off once more, or a recovery following a wider retracement, remains to be seen. The signals are a little more mixed here, and things will be a lot clearer with a break above 7532 or below 7427.