FTSE 100 expecting further weakness
Having seen the index pull back at the end of last week, we continue to expect further weakness in the coming few days. 6300 has stemmed losses over the past week or so, but a close below here will open the way to 6246 and then down to the 200-day SMA at 6206.
Bounces may continue to be sold, so any rally towards 6350 or even to 6375 might encounter fresh selling pressure. At present the index looks oversold intraday so a bounce cannot be ruled out. It would need a close back above 6350 to suggest that the weakness of the past few sessions has run its course.