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FTSE 100 looks to recover 7600
The FTSE 100 broke below the key 7600 level yesterday, but is attempting to recover this area and move higher.
With momentum now oversold on the daily chart, and breadth very weak (usually a sign of a buying opportunity), then a recovery of 7600 would point towards another challenge of the downtrend from the month highs. As of yesterday, however, it will require a close above the recent swing high of 7709 to confirm that the buyers are back in charge.