A London Stock Exchange sign sits on glass in the atrium of the London Stock Exchange Group Plc's offices in Paternoster Square in London, U.K., on Monday, July 25, 2016. Deutsche Boerse AG has yet to secure shareholder acceptance for its 10.6 billion-pound ($13.9 billion) takeover of London Stock Exchange Group Plc, although it edged closer with 55.5 percent of investors giving it the go ahead. Photographer: Chris Ratcliffe/Bloomberg
• FTSE 100 reversed from long-term resistance level 7630.00
• Likely to fall to support level 7400.00
FTSE 100 index recently reversed down from the long-term resistance level 7630.00 (which has been repeatedly reversing the index from January, as can be seen below).
The downward reversal from the resistance level 7630.00 stopped the previous minor corrective wave (ii).
Given the strength of the resistance level 7630.00 and the overbought reading on the daily Stochastic indicator, FTSE 100 can be expected to fall further toward the next support level 7400.00.
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