FTSE 100 breaking lower from rising wedge
The FTSE 100 is turning lower at the open this morning, with the overnight rise forming a bearish rising wedge formation.
That points towards a likely continuation of the recent losses, with a strong possibility that the index will return to the lower end of the range in play over the past two months. With that in mind, watch for a potential downward extension, with 7614 the next support level of note. A break above 7673 would be required to negate this short-term bearish outlook.