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FTSE 100 still weak
FTSE rallies over the past week have been firmly sold, with the opening push higher this morning also defeated. A downtrend line has been scrupulously observed since 2 March on the hourly chart, and if the price moves back below that line it would be a notable sign of weakness.
A first downside target would be 7260, the lows of yesterday and key support from early February. Any rally needs to clear 7360 to then push back towards 7400.
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