FTSE maintains a bearish tone

By FXStreet The Footsie lost 10 points or 0.18%, closing the day at 6,113.81, as commodities prices plummeted, dragging the mining and energy-related sectors lower.

Anglo American fell 13.8%, while Glencore shed roughly 9.0%, on fears Chinese demand will shrink further. EasyJet, however, rose 3.8% ahead of its earnings report this Tuesday, after RBC upgraded its rating.

FTSE technical view

“The FTSE 100 daily chart maintains a bearish tone, given that the index remains well below its 20 SMA, whilst the technical indicators have resumed their declines within bearish territory,” said Valeria Bednarik, chief analyst at FXStreet. “In the shorter term, the technical picture also favors the downside, as the index was unable to advance beyond a sharply bearish 20 SMA, whilst the RSI indicator heads lower around 41 and the Momentum indicator lost upward strength after reaching its mid-line. The index continues holding above the 6,100 region, yet a break below it should open doors for a 100 points decline, towards the 6,000 psychological level.”

Support levels: 6,101 6,062 6,006. Resistance levels: 6,146 6,214 6,256.
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Source:: FX Street