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FTSE’s rise fades
Wednesday saw the index fail to push on and close above the late-August high around 6260. As a result, it looks like the sellers have the upper hand, although they will need to breach the rising trendline that has supported the index since the August low, which in this instance means a move back to 6100. Further downward moves would head towards support at 6090 and then 6033. The index needs to move back above 6200 and close above this to restore the more bullish outlook.