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FTSE 100 downtrend continues
A drop on the open is being contained for the time being, but overall the bearish trend continues for the index. As yesterday, support still may not appear in noticeable form until 6000 or 5900, although the 100-day simple moving average (SMA) at 6079 is providing some short-term relief for bulls.
The pullback has been going on for three weeks now, so the time may be approaching when a rally materialises, but we would need to see sustained action back above 6200 to confirm this, or at least a bullish crossover in stochastics.