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FTSE 100 takes out interim double bottom just above 8,110
On June 11 the FTSE 100 based out at 8,114. Then on June 14 it based out at 8,113. The rebound that followed over the following couple of weeks has now petered out and the index has traded below that interim double bottom. The move lower comes as the CAC 40 falls closer to the lows seen last week (7,456) and the DAX tumbles below 18,150 this morning. There has not been much in the way of downside follow-though in the FTSE 100 yet, but given the break below 8,110 it might be unwise to rule out further downside in the short term
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