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
• FTSE100 reversed from resistance zone
• Likely to fall to support level 7500.00
FTSE100 index recently reversed down from the resistance zone lying between the key resistance level 7600.00 (which has been reversing the index from the middle of January) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the previous impulse waves (iii) and 3.
Given the bearish divergence on the daily Stochastic indicator – FTSE100 index can be expected to fall further toward the next support level 7500.00.
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