FTSE 100 consolidating once more
The FTSE 100 continues to consolidate, with the price currently in a symmetrical triangle formation via the creation of lower highs and higher lows. Ordinarily, that would mean we would be looking for a directional breakout via a move through 7499 or 7537.
However, because this current pattern is taking place within a period of sideways consolidation, there is a good chance we could simply continue to move sideways. Given the recent move below the 7515 support zone, a break lower would have greater implications than a break higher, which would simply point towards a move back into 7553 range resistance.