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FTSE at support
The grind lower seen in the FTSE 100 has led price back to the crucial 6227 support level, which appears to be holding for now. The inability to create a new high yesterday evening, followed by this current pullback to support, amounts to a clear warning sign that we could see the FTSE start to turn lower once more.
However, as long as price remains above 6227, the bullish trend remains in play, where a move towards the 6280 and 6300 resistance levels could occur.
That being said, should we see a close below 6227, it would bring a more bearish view where support levels of 6209 and 6174 come into view.