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FTSE 100 in the balance
After Monday’s defence of the 6240 area, and yesterday’s tight session, we wait to see which side has the strength to establish a direction. With the price still stuck below 6340 it looks like the approach is still to sell rallies as they appear, but with so much data and news crammed into the next 48 hours it may be the index continues to drift.
A close below 6240 would suggest further downside is on its way, with targets around 6170 and then 6070. Any bounce has to clear 6340, but also then go on to establish a new high above 6420 to confirm a bullish trend.