Our medium term analysis remains the same calling for a decline to 5720.
Yesterday's close for the market was negative as the FTSE closed just under 6055. This is negative as the FTSE made a new high for the day but then closed under this major support level at 6053. As we know 6055 has been a key focal point for the last 2 weeks and regularly mentioned.
On the short term analysis we have just filled a previous closing gap at 6007 and for continued selling we need the market to break 5990 where the 10 day moving average currently lies. If the market moves below 5990 we can conclude a short term top is in place.
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