Global equities tumbled after being wrongfooted by inflation data. The FTSE 100 had recouped most of the losses from the mid-August liquidation but turned south near the previous peak at 7570. Strong selling below 7370 forced more buyers to bail out. 7270 at the origin of a bullish breakout is a key level to see whether there is strong enough interest in keeping the rebound intact. Or 7180 could be the last level to keep the index afloat. 7380 is the first resistance as an oversold RSI may cause a limited bounce.
