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FTSE at resistance zone points to possible move lower
FTSE is currently holding around a key resistance zone, between the descending trendline and 18 June low. So far, the price has held below this zone and I believe this will be crucial for the direction of the index ahead of the US jobs report later today. I will be watching for intraday candlestick patterns to signal that the price is going to reverse lower from this zone, at which point I would be looking at 6569 and 6500. However, should the price move above 6623 it would point towards the resistance levels of 6640 and 6672.