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FTSE looking set to break lower
The FTSE is turning lower from trendline resistance this morning, in what looks like the beginning of the next leg lower for the index. With the price having broken through trendline support, the key here is whether we can see the 7335 support level breached. An hourly close below there would point towards a move back into 7294 support. This is dependent on the break of 7335, where the inability to do so could bring us back into the 7386 resistance, which has been respected throughout the week thus far.
However, given the triangle pattern in play, there is a strong chance we could be finally seeing the breakout for this market.
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