The FTSE 100 weakens as investors remain sensitive to a global downturn. The price action is in a narrowing range between 7020 and 7280 as the bulls strive to hold onto the recent bounce. The upper boundary coincides with the 30-day moving average, making it a key resistance to lift before a sustained recovery could happen. Otherwise, the path of least resistance would be down with 7110 as the first support. A break below 7020 would invalidate the rebound and deepen the correction to March’s low at 6800.
