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FTSE above 6400
Two days of gains have resulted in the index moving above the key 6400 level. Further upside targets lie around 6460 and then 6492, with a breakout above the latter targeting the 6600 area, near the 200-day simple moving average (6612) and at the top end of the current rising channel. Bears will struggle to get this index lower unless they can get it back below 6375, at which point 6340 and then 6316 become support.