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FTSE 100 tries to breach 7500
The FTSE 100 is once again testing the area of resistance around 7500, as it did at the end of August. This zone proved problematic a month ago, and a failure to post a daily close above 7500 would be regarded as potentially bearish in the short term, creating a lower high.
A close above 7500 could open the way to 7644, the late August high. Below 7490, the chances of a leg lower towards the September lows increases.