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FTSE 100 – can it break the 7300 area?
An outbreak of risk-off sentiment has seen the FTSE 100 falter at the June downtrend and at the 50-day simple moving average (SMA) at 7419.
With 7360 lost once more, we will see whether the index can break the 7300 area, which would open the way to the 200-day SMA at 7266. Below this a move to 7090, not seen since late April, comes into play. We need to see a recovery of 7400 to become more optimistic about the outlook.