Michael_Macdonald-XATSUK

UK FTSE100 coming under selling pressure

TVC:UKX   UK 100 Index
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The UK FTSE100 Index remains strong, but gains are expected to continue to prove difficult to maintain.
Overbought studies and negative divergence on the bearish Tension Indicator (not shown) are adding pressure to bullish sentiment, with any initial tests of the 7500/11 barrier to prove difficult to sustain.

Risk/reward is for a short-term corrective pullback, but improving background studies should limit downside tests.

Support is at congestion around 7350 and extends to the 7263.62 low of 9 March. Any deeper reactions need to stabilise above the 7192.94 low of 24 February to keep bullish sentiment intact.

A close beneath here, if seen, would add extra pressure to price action and open up critical support at the 7093.57 low of February.
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