FTSE 100 RSI holds firm
Yesterday was spent pushing the index lower from the Friday highs, which coincides nicely with the top end of the current descending channel.
If the index continues to hold below 6051 then the outlook would seem to shift towards bearish – targeting 5981 and then down towards 5851 in the event of a bigger move.
The rising hourly trendline still holds for now, and dip buyers might decide to try another entry just above 6000 in case sentiment revives, but it is beginning to look like the bounce has run its course.
A definitive move back above 6100 would negate this outlook.