FTSE 100 rebound could be short-lived
The FTSE 100 managed to break below the critical 6841 support level last week, bringing about a heightened chance of a longer term and wider sell-off for the index.
While we saw a rebound on Friday, the subsequent fall through 6740 on Friday evening points towards a resumption of that bearish trend. With that in mind, this current rebound is likely to fall short of Friday’s peak of 6869. As such, this rally is likely to be short-term, with gains seen as a selling opportunity as long as we remain below 6869.