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FTSE 100 bounced reversed
Yesterday’s bounce proved to be a flash in the pan, with a brief move above 6150 swiftly reversed. Yet the index still finds itself unable to move much below 6100, with the area from 6060 to 6080 acting as a strong cushion of support.
If we do move below here, the 15 September lows – around 6015 – come into play. A daily close below 6000 still eludes the bears, but it is the thing that is needed to really push this market down.
A turnaround from this point would need to close above 6250 on a daily basis, but at this point even this move seems too much to ask for the bulls.