FTSE 100 foiled again by 6850
A decent rally yesterday pushed through the key 6850 area, but once again there has been no follow through. We now look to see whether the price can hold above the rising hourly trendline.
If it breaks through here, and pushes on to 6750 we may be seeing the beginning of a downward move, perhaps down to 6660. A rally needs to clear 6850 and then close above 6900 to suggest a test of 7000 is on the way.