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FTSE could see resistance at 6800
The sharp drop seen so far this morning, after yet another test overnight of the zone around 6750, shows how indecisive the index is at present. For now, we wait to see if the index can hold 6650; a break below this area would suggest that we have seen the uptrend run its course, with a move back towards 6500 now possible.
If the index turns around and moves back above 6700, then we look to see if it can move firmly through the 6750/6760 area, with more resistance likely around the 6800 peak from mid-July.