FTSE100: In trouble, trading below the cloud!

FTSE 100: In trouble since price action is taking place below the cloud. The front end of the cloud indicates that we now in a downtrend. Bottom end of the cloud is a major resistance zone at 7347, and 7271 zones. The index is looking for support around the 7197 zones.

Outlook remain negative!

Short term trading opportunity is a possible rebound back up to the bottom end of the cloud zones: 7271/7347.