FTSE 100 rally pauses below key resistance level
The FTSE 100 is turning lower this morning, following on from a rally through trendline resistance.
While the recent break through the 7010 swing high and trendline resistance are bullish signals, a move above the 7070 mark would provide a much more reliable bullish outlook. For now, we look likely to provide further downside, with the failure to break 7070 providing us with a chance that we could still see another low created. In any case, the near-term outlook remains bearish for now.