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FTSE buyers in ascendency
The bounce continues for another day, pushing towards resistance at 6272 and then on to 6348. With daily stochastics still bullish the longer-term outlook points to more gains, but with hourly indicators at overbought levels it may be prudent to wait for a move back to 6200. Rising support on the hourly trendline is around 6090, but that is now some distance away. Buyers seem to have the upper hand for the time being, with the index slowly moving out of consolidation territory.