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FTSE 100 downtrend remains in play, with rebound being met by selling
The FTSE 100 attempted to break higher overnight, with price passing through trendline resistance. However, the inability to break through the 7050 swing high was a signal that the trend may not be over yet.
With the market turning downward, it is clear that the trend looks likely to post another leg lower. A rally through the 7029 swing high would be required to bring about a more bullish view.