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FTSE 100 slides below technical support levels on the opening
The FTSE 100 closed last night at 8,302.62, with a rise of 22.99 points on the session. It has just now effectively reopened well below that close and in the process, busted below its 50 and 100 day moving averages. Those are in place around 8,265 and 8,245 respectively (an exact update will follow later on those) and the index is now fallen to below 8,225 in opening trade. Either way one wants to cut it that is not positive and not really what one might expect, given the relative Oil price and the GBP/USD right now. So, not a good start for the UK equity markets this morning
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