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FTSE 100 looks set for further downside
The FTSE 100 sold off after breaking lower from a rising wedge at the key 7312 resistance level yesterday, with the price consolidating overnight.
This period of sideways consolidation is likely to give way to further downside, with the index looking likely to retrace the 6979-7325 rally. As such, unless we break through the 7325 level, a bearish short-term view remains in play.