FTSE 100 Index may be forming a top

September 24, 2020 Update: Credit Suisse analysts say the FTSE 100 Index appears to be building a top, and they expect renewed underperformance. If the index falls below 5778 and 5765, it would confirm that the recovery from March is over. They see support at the 50% retracement of the March to June up move at 5705 and the May low of 5661.Below that level, they see 5515 as possible at the 61.8% Fibonacci retracement. If that level breaks too, then they believe the entire March to June uptrend could be fully retraced. Only if the index rises above 6089 or 6124 do they think it’s likely that the…

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HEDGE accordingly