 Hello and welcome to the CMC Markets Chart of the Week video with myself Dev Madden, Mark of Analyst and today's date is Wednesday, the 6th of December and the time has just gone 12pm UK time. And this week's chart of the week is the FTSE 100 as we call it here on the CMC Markets Trading Platform, the UK 100. Now take a look at the price action over the last hour of months after creating an all-time high in early June of this year. The FTSE 100 had a very decent sell-off over the summer period, only to push higher in late December and that rally ran out in the early part of November. But the high of November failed to actually take out the high of the all-time high that was created in early June and since that high that was created in November, the market has been moving in a very clear and obvious downward trend. You can notice the lower low followed by the lower high and the lower low yet again. As soon as we didn't take out in November, as soon as we didn't take out the June high, we failed to create a higher high, could we be looking at a new lower low in the next number of weeks? And as you can see here, while the market was pushing lower since early November, turning our attention to the MACD histogram, the MACD indicator, we can see that the momentum is clearly on the negative side, so the setting pressure has been clearly with the bears, with the sellers. So the market's been moving lower and that's been confirmed by the steady increase in negative momentum in the last few trading sessions. And even actually last Friday on Friday the first of December, the FTSE 100 fell to its lowest levels in over two months. Now this morning, it didn't quite get as low as Friday's low, but it was too far off of it. And while we remain south of the 200 day moving average, which comes into play at 7,400, it's likely the outlook for the FTSE 100 is going to remain negative. So if you do push lower again on the FTSE 100, the next level of tougher potential support might be the Friday's low on the first December of 7,278. Should we take out that level, the next area to potentially keep an eye out for may be the September low of 7,195, and if you do happen to break low south of 7,195, you could be looking back as low as the April low of 7,088. But should we manage to push higher and get above the 200 day moving average hurdle at 7,400, the next level to potentially watch out for for resistance might be the late November high of 7,472, this price actually here. And if you go beyond that, that could be an indication that the the negative trend that we've seen since the beginning of November might be coming to an end. And if you have a decisive break north of 7,472, that could be an indication that we're heading back up to November high and approaching back up towards the 7,600 region. Well, that's all for me this week. Please tune in next week. Thank you very much.