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FTSE 100 tests 200 day moving average support

Since an earlier update here this morning, the FTSE 100 tried to rally back, but that stalled well short of the 7,600 mark (7,585 the high). It has been edging lower ever since, as the DAX fails to rebound and the US futures drop back further into the red, led by losses in the Nasdaq 100. So, the FTSE has recently dropped below the 7,550 mark and just now tested a potential support level, at 7,547. That is where the 200 day moving average is in place today and it could be important if the index were to close below that level later this afternoon. The 100 day moving average is not far below that too, right now at 7,541. Hence this would make any close below both of those rather negative in technical terms. The low seen a moment ago was around 7,545, but it is just now edging back above 7,550 

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