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FTSE takes next leg lower
Yesterday’s big selloff in the FTSE 100 continued upon finding resistance around the 6691 resistance point which represents the 10 March low. Despite failing to regain the lows of 6510, the signs are pointing towards further losses today.
Overnight consolidation has given way to another bout of selling and the 6558 support level is all that stands between the current level and 6510. Ultimately I believe we will see further losses as long as price remains below the 6600 resistance level.