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Despite the strong finish for US markets on Friday, the new week has not begun well for the FTSE 100.
Last week saw further attempts to break 6200, while 6080 was crucial support on Tuesday and Friday. Since Wednesday we have had a sequence of lower highs and lower lows; a first step would be a move down to 6080, and a break through here targets the second weekly pivot at 5992.
For the time being, any bounce back towards 6200 may simply bring out fresh selling pressure.