FTSE 100 tanks at the open
The FTSE 100 has been selling off sharply at the open, continuing the story of weakness set into play since breaking below the 7662 swing low on Friday.
This fits into the wider range which has been in play over the past month, pointing towards the possibility of a break down towards the 7570 lower echelons of the range. With that in mind, there is a good chance we will see the price continue to trend lower, as long as we do not rally above the 7657 level. Until that happens, a bearish outlook remains in play.