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FTSE begins to weaken after yesterday’s gains
The FTSE has started to tire this morning, coming off the back of a period of strength for the beginning of the week. Crucially, with the wider downtrend in place, we are looking for a break either above 7304 or below 7187 for the next signal.
Given the fact that we are selling off from the 61.8%, set within a wider downtrend, there is a good chance we could be seeing the beginning of the next leg lower. A break below 7187 would be the key bearish signal, yet for now there is a good chance we are beginning to head towards that mark. That being said, considering the outlook for the DAX and Dow, there could be a reason to believe that this weakness could be short-lived.