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FTSE 100 pulls back
The FTSE 100 has pulled back from overnight highs, confirming it is the 5950 area that will need to be breached for further upward progress towards 6000 and then 6114. The trendline off the lows from last week was tested yesterday, and we may see this come into play again around 5840.
A move below yesterday’s lows of 5768 would signal the rally is weakening, although it will take a drop through the 5650 area to suggest a new downward leg is in progress.