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FTSE 100 could push to 6120
A gap lower overnight has been swiftly reversed, with the index back at 6000 once more. Having held its ground well during last week it appears we now have the room to move higher.
Crucial to this will be a move above the top end of the downward channel, ideally achieved through a rally above 6043, the first key pivot point. This would leave the way clear for a push on to the 6120-6130 area.
From there the next stop would be the 6300 area, where the index topped out at the end of December.
Any renewed selling will need to move below 5900, which would then bring 5820 into view.