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FTSE 100 eyes 6000
The index showed a marked reluctance to go down yesterday, holding comfortably above the 50-hour simple moving average (5855) throughout the session.
Gains above 5940 should be expected if bullish momentum holds, with the real target still being the 50-day SMA at 5960 and then the 6000 area, which will coincide nicely with the top end of the current descending channel.
What has been missing thus far is a real dip, but this may occur if the index drops back towards 5750, providing another potential opportunity to get long ahead of options expiry on Friday.