FTSE rebounding after crash lower
The FTSE smashed lower yesterday, following the break below the key 7253 support level. This has brought us back in the region of another key support level, with 7090 providing a crucial marker which, if broken, could lead to another round of substantial losses.
For now, the price remains above that mark and has managed to rebound moderately overnight. An hourly close below yesterday’s low of 7106 would point towards a challenge of 7090. Until then, there is a good chance we could see a more extended rebound while we remain above 7090.