• FTSE 100 index reversed from resistance level 7390.00
• Likely to fall to support level 7200.00
FTSE 100 index recently reversed down from the major resistance level 7390.00 (former monthly high from November) – intersecting with the upper resistance trendline of the wide up channel from July.
The downward reversal from the resistance level 7390.00 started the active downward correction.
FTSE 100 index can be expected to fall further toward the key support level 7200.00 (former strong support from October and November).