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FTSE breaking higher
FTSE is punching higher from an early morning consolidation which pulled back to the inside trendline originating from Thursday. The initial spike has been sold into, yet further is clearly possible if trendline support holds. Should it hold once more, we would be looking at the resistance levels of 6429, 6460 and 6489. Also watch out for potential trendline resistance. However, with the FTSE trading within a rising wedge (bearish) there is a chance we could see the FTSE start to move towards the lower boundary of the formation. A close below 6383 would point towards possible downside towards 6368 and trendline support.