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Christopher Lewis
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The FTSE as you can see fell during most of the session on Monday, but bounced off of the 6300 level in order to form a hammer. This hammer sits just below the 6400 level, and a move above that level would in fact be very positive as far as we can see, simply because it would be a reentry into the consolidation area that we had been in previously. On the other hand, if we break down below the 6300 level, we think that would be a very negative sign as we should then head to 6000.

 

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