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FTSE 100 showing signs of weakness
The FTSE 100 has rolled over this morning, following on from a repeated failure to break through the 7553 resistance level in a meaningful manner. This has brought us into a potential head and shoulders pattern, with a neckline at 7519.
Should we see an hourly close below that level, we could see the index move lower from here. The flip side would be a break up through the overnight highs of 7542, which would point towards another potential challenge of the 7553 resistance.