FTSE 100 technical analysis

David Austin 

Senior FX strategist, Citizen Prime FX

From an early March high of 8908, the FTSE 100 fell 1364 points to a low of 7544 in early April, before its impressive rebound.

If the rebound from the 7544 low doesn't extend above 8500 on a sustained basis, there are risks of a downturn to correct part or all of the rally from the 7544 low.

A sustained break above 8500, will indicate that the correction from the 8908-record high to the 7544 low is complete and that the uptrend has resumed.

Chart by Trading View

 

 

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