FTSE 100 - 4 Hourly - MACD looks to be turning negative. Resistance above.

Technicals

From a technical aspect, the FTSE looks somewhat bearish. Tough resistance above sits at 7,556. A break through here on the daily timeframe could indicate a move higher towards 7,619 and then 7.658. MACD is losing momentum suggesting a more bearish outlook on the 4 hourly timeframes. When it last crossed over the FTSE then proceeded to fall over the coming days by about 3.5%. Towards the downside, there is some support at 7,492 (white upwards trendline). A break below here could take the index towards 7,430 and then 7,328. Major support sits at 7,270. A break below here could completely change the medium and long term sentiment.