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FTSE 100 turning lower after recent rebound
The FTSE 100 is showing signs of a potential bearish shift, with a break below Friday’s low of 7072 providing a strong possibility of a pullback from here.
Given the fact that the rebound from late October came from the crucial historical level of 6841, there is a good chance we are seeing the beginning of a wider bullish move come into play. With that in mind, watch for any such near-term weakness to be a potential pullback rather than reversal. A break below 6841 would bring a medium-term bearish view into play.