FTSE 100 regaining ground after sell-off
The FTSE 100 has started to regain ground this morning, coming off the back of a strong sell-off yesterday. That move lower brought the price back below the 7428 support level, providing a strong possibility of a wider sell-off before long.
However, for now, we are seeing the price move back towards trendline and simple moving average (SMA) resistance. As such, while we could see further short-term upside, a break above 7475 would be required to provide confidence of a bullish move for the index.