FTSE turning lower once more
The FTSE 100 is selling off sharply this morning, following on from the inability to break through 7556 on Tuesday. The consolidation seen yesterday and overnight formed a symmetrical triangle which has broken to the downside. Further losses seem likely, yet it would make sense to await a retracement or continuation pattern to enable better risk profile to any trade.
The fact that we turned lower from below the 7556 mark earlier in the week points towards the potential for this sell-off to fall back below the 7381 mark in a continuation of this recent weakness.