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FTSE challenging crucial support level
The FTSE has sold off sharply into the 7253-7262 support zone this morning. The ability to maintain the price action above this level is key to avoiding significant losses for the index.
However, should we see a strong hourly close below 7253, we would be looking at the completion of a bearish head and shoulders formation. As such, the reaction to this support level will dictate the state of play for the remainder of the week.
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