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FTSE 100 puts bears in strong position
The new week begins close to 6100 for the index, much as the last one did. So far, gains above 6150/6180 have proven hard to sustain. However, sellers have been unable to break below the 6050/6100 area, so this provides good levels to watch for the time being.
Any break higher must manage a daily close above 6180, and ideally above the 50-day simple moving average (SMA) at 6202. A move downwards would have to clear 6050 on a daily close, at which point we would look to sell strength as it appears.