FTSE in the process of a bearish break
Yesterday’s break below 6690 for the FTSE was an initial bearish signal, with the creation of a new lower low on an intraday basis. However, the more notable bearish signal would be a push below the major swing low of 6663, which would provide increasing confidence that we are on the cusp of a significant pullback.
With price currently breaking through that support level, an hourly close below 6663 would provide us with a bearish view for the coming days. Support levels of note are 6636 and 6606.