FTSE 100 tries to recover from difficult Tuesday
The price action so far this week has not been particularly bullish for the FTSE 100. While it remains above last week’s lows, the push higher on Monday was reversed and followed by losses yesterday, creating a lower high at 7772.
Thus the descending trendline created means that we need to see a push above 7730 to break both this trendline resistance and horizontal resistance. Support is still provided by 7670, but if this is broken then last week’s lows at 7586 come into play.