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FTSE hits resistance
The FTSE has begun selling off from the 6249 resistance level (10 November low) following on from a strong bounce higher yesterday. Given the strong uptrend in play so far this week, we would need to see the price close back below 6212 for greater confidence that we will see a more protracted pullback. Alternately, a close above 6249 would be the bullish indication that the price is set to continue the bullish sentiment that drove prices higher yesterday. A close below 6212 would look towards 6174 as the next main support level, whereas a close above 6249 would subsequently look towards 6300 and 6330 levels.