The FTSE 100 tumbles as risk appetite recedes amid growth concerns. On the daily chart, the index has met stiff selling pressure at the double top (7650). A fall below 7520 has triggered a round of liquidation which suggests a lack of commitment from the buy side. 7240 is the next support as the RSI sank into the oversold area. Further down, the daily support at 7160 is a critical floor to keep the index afloat. A bearish breakout could trigger a sell-off towards 7000. 7450 is the closest resistance in case of a rebound.
