Overnight the FTSE sold off over 100 points then recovered a little prior to the open. At the open it was more downward pressure until it found support around the 6070 level. Looking at the hourly chart the FTSE is currently sitting in a trading range and I expect it to grind its way back to the top of that range by the close of play. One other possible scenario is a pullback to the 6100 – 6113 level and a sell off from there as support becomes resistance.