FTSE collapses back below first support at 7115/20 for the next target and the most important support of the day at 7070/60. Longs are risky in the bear trend. If you try, use stops below 7035. A break and close below 7040 is an important longer term sell signal initially targeting 7000 and 6960/56. Further losses targets 6920/15 and the February low at 3670/60. Unlikely this will hold on the next test. A break lower is another obvious sell signal.
First resistance at 7115/20 but above here allows a recovery to resistance at 7152/56. This also fill the gap for a selling opportunity with stops above 7170. Further gains meet the main challenge for bulls today at 7195/7205. Try shorts with stops above 7225. A break higher is a buy signal targeting 7240/45 and 7260/65.
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