FTSE slump resumes after close below 6000
Yesterday witnessed a FTSE close below 6000 for the first time in a month, firmly ending the limping upward move that began back in late August. So far buyers have stepped in to defend the 5870 area, but the index needs a close back above 6000 to even suggest that the slump is over. With the RSI still steadily declining on the daily chart, rallies are there to be sold. The 5800 mark still looks to be the destination at present.