FTSE set for another major move lower

IG technical analyst Josh Mahony looks in detail at the FTSE 100 which has taken out some crucial support levels. He says it is looking to break into the range we saw in 2011-2012. 

The daily chart shows that a move down to 5760 seems ‘very likely’ and using a projection of a flag pole the target is even lower at 5,100, an area of support we saw back in 2010-2012.

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