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FTSE 100 stuck at 7309
Overnight gains for futures have disappeared, and the FTSE 100 finds itself stuck below the 50-day simple moving average (SMA) at 7309. The peak was marked by 7309 from 26 April, after which the index moved back to support at 7192. We may see this play out once again.
A recovery to 7340 would help reverse the bearish outlook, although the price still has to break the downtrend line off the March all-time high that has stymied progress on the daily chart.
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