FTSE 100 opens below the rising trendline
The FTSE broke lower yesterday, and while it closed above the rising trendline, it has opened below it this morning. However, while bears can be pleased with their work yesterday, they now need to post a daily close below 7294, the lows from last week. Below this, 7260 and then the 200-day simple moving average (SMA) at 7198 come into play.
A recovery needs to move back above the rising trendline, and then above 7360.