FTSE 100 could drop to mid-September low
It has not been a week for the faint-hearted, with rallies and slumps in equal measure for the index, with today seeing a bounce.
Nonetheless, we still have a pattern of lower highs and lower lows, so we will need to see a break of yesterday’s highs around 6870 to indicate that a new upward leg is in progress. Otherwise support comes in first around 6800 and then at yesterday’s lows of 6770.
If 6770 is breached then we could see a move down towards the mid-September low of 6634.