The FTSE100 is boxed between two EMAs

On the daily chart of the FTSE100 of the United Kingdom we can see that the index stays right in between the 55 day exponential moving average, purple line, and the 200 day exponential moving average, blue line. There was a lot of volatility for today in the markets due to the decisions taken by the European Central Bank, however the markets in the United Kingdom have been hurt by the uncertainty surrounding the possible exit of the UK from the European Union.

That uncertainty has created high volatility and that is why we can see on the daily chart that the latest candle is relatively big. It seems like the bearish momentum is still in place and a breakdown below the 5990 could take the index to the 5813. If the FTSE goes back up, staying inside the EMAs, then it could try to break above the 200 EMA and maybe reach the 6448.