FTSE at key support which will dictate play
The losses in the FTSE have persisted overnight following a strong evening of trading. This time the top was marked with a spinning top following two bearish engulfing selloffs earlier this week. The price is currently sandwiched between Monday’s low of 6450 and yesterday’s low of 6430. As such, an hourly close below 6430 would be the signal that the losses are to be extended. Otherwise, watch for signs of a possible bounce such as the hammer seen at yesterday’s bottom.