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FTSE remains at 6740
For a second day the index is stalled at the 200-day SMA (6740). This is a combination of Greece-related caution and uncertainty ahead of Janet Yellen’s testimony later today. If the index can close above this line then we look to the 6850 area as I noted yesterday; this may be just a dip in the current uptrend, and I would continue to regard oversold stochastics on the hourly chart as entry opportunities. It would take a move back below the 200-hour MA at 6605 to change my view here.