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FTSE continues to rally
The rally continues, although a dearth of big ticket RNS announcements has left the index with little momentum to build on yesterday’s stellar day. With the index now back above the October and December 2014 lows, we now look towards the zone around 6300/6400 from January as the next area where resistance may be found.
On the hourly chart the price is now testing the 200-hour simple moving average (6215), with intraday targets being 6340 and then 6406. Downside support is likely around 6100, and then 5900.