FTSE sells from resistance, yet likely to return
The FTSE 100 sold off yesterday following a break to the key resistance level of 6809 (7 May swing low). Given the recent recovery, I expect to see us challenge that level again in the near future as long as the price remains above the 6727 support level. A move above 6809 would likely move us towards the next resistance level of 6871. However, a move below 6727 would bring a likely move to 6692 and 6672. For the time being I remain bullish and expect a new high to be created as long as the price holds up above 6727.