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FTSE showing signs of weakness
The index has provided us with a relatively range-bound March so far, with price generally selling off between 6200 and 6220, only to bounce once more at 6100. This morning we are seeing the index break through 6140 and 6128.
It seems likely we will see a return to 6100 should this overnight trend persist. Given the sharp break below 6100 on Thursday (due to ECB), this 6100 support level could be weakened, giving way to a possible break lower should we sell-off further.
With that in mind, I am more inclined to believe we would see a break below 6100 than above 6220. Key support levels are 6100, 6065, 6032 and 6006. Notable support levels to watch are 6200 and 6220.