FTSE100 – Failure to hold above trend line could suggest correct

Monday’s fake breakout above 7055 levels on hourly chart followed by a sell-off and a daily close below 7000 levels if followed by a failure/rejection at rising trend line level could result in a sell-off towards 6900 and potentially to 6800 levels over the next few days.

On the other side, only a daily close above 7055 would open doors for a rally to record highs above 7100 levels.