FTSE breaks below 6672 and seeks to retest
Price has marginally run past the key 6672 level overnight, posting a five-month low for the index. Unfortunately we have not seen a close below that level, with the price closing on 6672 at the end of the session. However, the intraday charts show that price is retesting that previous support level as new found resistance, and as such I am bearish as long as price is below 6672.
The retest provides me a good opportunity to enter short into the market, with a tight stop loss just above 6691. That would be based upon the 6672 resistance holding and the Greek story continuing to drag on fundamental sentiment.