FTSE 100 drops below key support
The FTSE 100 has continued the decline seen throughout October, with a break below 6920 yesterday. That continues the trend of lower highs and lower lows.
However, we need to see a break below the 6841 level to provide a more long-lasting bearish signal as this would bring about a new 22-month low for the index. As such, while the bearish view remains in place, a break below 6841 would provide a greater picture for the index.