FTSE100: Consolidation underway with 7137 next support level!

FTSE100: Consolidation underway with 7137 next support level! The FTSE continued the downtrend after reversing at the 7505 resistance zone!

The weekly cloud chart level of 7137 is a key support zone to be tested! Critical for the index to find support here.

Price action remains below the cloud and the front end of the cloud so far still confirms the bearish outlook.
The index is down more than 400 points since the initial cloud chart sell signal.