- 100.76 points is the FTSE's largest single-day drop in 4 weeks.
- The FTSE breaks 25.59 points below established support around 7,755.53
The FTSE has been losing ground for 3 days, shedding a total of 1.66% of its value. More of the same today: the FTSE drops 100.7 points early on and steadies around the 7,730 level.
The index has been trending positively for about a month. This year has been a bright one for the FTSE after trading as low as 6,826.2 and going on to appreciate by 3.66% year to date.
FTSE pushed below the 7,755.53 support level and extended 25.59 points beyond it. The FTSE made an initial break below its 10 day Simple Moving Average at 7,765.73, a possible indication of a forthcoming negative trend.
Looking forward, the FTSE is poised to extend its strong downtrend and continue declining.
Fundamental indicators – United Kingdom Consumer Price Index released yesterday at 07:00 UTC with a figure of 10.5%, while the previous figure was 10.7%.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 33,900, Dow Jones lost 600 points and is trading around 33,300. CAC closed at 6,961.49 (down 1.72%). DAX closed at 14,924 (down 1.7%).
Upcoming fundamentals: United Kingdom Retail Sales is projected to outperform its last figure with 0.5%. It previously stood at -0.4%; data will be released tomorrow at 07:00 UTC.