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FTSE 100 eyes 100-day SMA
All eyes remain on the 7130 level, which was breached yesterday. The index is now attempting to recover the level and move above it, but with support now set as resistance it may prove difficult.
A further drop would head towards 7060 and then down to the 100-day simple moving average (SMA) at 6972. Any rally needs to clear 7170 to indicate that the buyers are firmly in charge.