FTSE 100 defeated by 6800
Moves above 6800 have been defeated over the past week, so the current push towards this level may spark fresh selling. As noted last week, there has been a steady rising trend on the hourly chart from the 4 November lows, but like a bouncing ball each rally since then has got smaller and smaller.
If the price breaks below 6750 and then drops through 6700 we could see a swift move to 6612 or lower. Any rally must clear 6800, with targets on the upside lying at 6939 and then 6997.