FTSE 100 testing the 100-day moving average after its recent retracement, now trying to consolidate and create a support base along it.

Taking a look at the FTSE 100 after its recent retracement. The index has reached the support along the 100-day moving average (7,827) on the 4 hourly timeframe, now trading around 7,843 and trying to consolidate. Current support sits at 7,835 followed by 7,810, a break below 7,810 could see the index fall further towards 7,760. Looking towards the upside, resistance sits at 7,869 (20-day MA) followed by 7,888 (50-day MA). A break above the 50-day moving average may see the FTSE climb back up towards that level of 7,930. Over to the technical indicators, MACD is still negative but looks like it's searching for that neutral stance and so is RSI as it now reads 43.