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Will the FTSE 100 cling to 7,700 this morning?

Yesterday the FTSE 100 fell back closer to the 7,700 level that has defined a technical break out several days beforehand. The lack of traction above 7,700 and failure to even reclaim levels above 7,800 is a disappointment though. So, the index closed just 4 points lower yesterday, at 7,722. The low seen prior to that close was set at 7,714. The index future was pointing to a potential reopening this morning at very close to that 7,700 handle, but right now it is set to still reopen above that level. Naturally, it remains to be seen how it will fare, when live trading resumes shortly. 

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