FTSE 100 - Plummeted 2.4% and Broke the 10-Month Rising Trend Line - 04/19/2017 (GMT)

After the announcement of U.K. Prime Minister yesterday, the stock U.K. index FTSE 100 had a sharp sell-off which is still in progress. It penetrated the ascending trend line to the downside which was standing over the last ten months. The index plummeted more than 2.4% and recorded a fresh two-and-a-half-month low at 7104 early this morning. Moreover, the price printed the third negative day in a row and is approaching the 7090 support level which is slightly above the 200-SMA. If the price slips below the latter level, it will open the door for the 6870 obstacle.

In the same chart, the technical indicators head sharply lower within the negative territory while the 50 and 100 SMAs are sloping downwards. The MACD oscillator fell in the bearish area while the RSI indicator lies near the 30 level. The only thing that keeps the price not falling further is the 200-SMA which may act as a strong support level.