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FTSE 100 back below 7200
What looked like a very bullish day yesterday turned sour in the afternoon, with the index unable to hold gains above 7200, and, indeed, 7200 itself. However, the 7160 was held yet again so, for now, the trend is still moving upwards.
Bulls need a daily close above 7200 and then above 7236, with further targets still at 7276 and 7348. A close below the rising 50-day simple moving average (7092) would be a real sign of a bigger drop.