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The FTSE 100 had a horrible day in the futures pits on Wednesday as we saw the market absolutely crumble. We are now testing the bottom of a potential rising wedge pattern, and as such we see this market is very vulnerable to the downside right now.
If we managed to break below the 5700 level, we would become aggressively short of the FTSE at that point in time. We also are willing to go long if we get the right supportive candle. However, we think if the bottom of this rising wedge breaks, the FTSE is not where you want to be.