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FTSE breaking higher
The FTSE is breaking higher once more this morning, following on from an overnight period of sideway consolidation. The triangle breakout was less important than the move back above yesterday’s high of 6150.
This gives confidence of another day in the green and the closed hourly candle in particular provides a strong bullish signal. As such, given the trend coming into today’s upside break, the bullish bias holds, with resistance levels of 6174, 6197 and 6209 in view.
The bullish view will hold unless we see a closed hourly candle below 6117, which would subsequently look towards 6100, 6091 and 6070 support levels.