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FTSE 100 re-approaching 200 day moving average

The US stock markets are all in the red now this afternoon and of course it has been that way for more than 90 minutes now. At the same time the European markets do not look too hot right now either. The DAX is now trading below 16,550 and the FTSE 100 has fallen below 7,600. It is now approaching its 200 day moving average (currently at 7,570). The FTSE has not been below this price point since December 18 and so a close tonight below this level might not look too clever from a technical perspective. That close is just over 30 minutes from now and the FTSE 100 is currently trading at 7,587 

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