FTSE 100 turning lower from resistance zone
The FTSE 100 has been seeing some weakness come into play this morning, following a rally into the crucial 7436-7461 resistance zone. This area of resistance encompasses a host of tops seen back in August and September. With that in mind, there is a good chance we could see a pullback from here, with the ability to break through 7461 providing key clues as to where this index is set to move next.
As such, today’s price action will be very telling, with the potential of pullback from here. Alternately, a break through 7461 would indicate a continuation of the recent uptrend.