FTSE 100 Forecast: Vulnerable Below 6,800 Despite Ascending Channel

To the downside, short-term support remains on the lower bound of the ascending wedge. A break below this line may be an attempt to push the FTSE 100 below the 6,600 level, at which point it becomes vulnerable to a bearish run towards the horizontal support line at 6,255. Before this area, there are a few supports that may stop bearish pressure, firstly at the 61.8% Fibonacci (6,489) and then the low of Dec 21st at 6,311.

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