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FTSE could drop to January lows
The bounce back above 6500 proves that this is the level that sellers need to beat to keep the downward move in progress. For the bulls, we are waiting for a move back above 6600 that then clears the highs of last week around 6650. I fear that the presence of Greek news in the headlines will contain progress.
A close below yesterday’s low of 6450 would mean that the FTSE 100 is heading towards the January lows around 6300.