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FTSE's progress dented
Three days of losses on the FTSE 100 will be enough to dent the enthusiasm of any bullish investor. The index finds itself back near the 200-day SMA (6743). A close below this level would suggest another move back to the 6650 zone we saw just last week, the index having lost the rising trendline on the hourly chart that had run from the 18 June lows.
On the intraday chart we are watching the 200-hour SMA (6760). While daily stochastics have yet to turn bearish, a weak close today would certainly set the cat among the pigeons. Any bounce higher needs to consolidate above 6840, as an indication that the selling has run its course.