FTSE 100 clings to 5900
The battle for 5900 goes on, with the index so far clinging on around this area, as it did on Thursday and back in December 2015. We saw buying on Friday but this petered out around 6000 – if further attempts develop then 6000 will be a key battleground again, especially since the downtrend line from 4 January kicks in around here.
The market may find the strength to rally again, but this is likely to be treated as a selling opportunity if it cannot hold above 6000. A break lower targets 5776, the lows from August last year.