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Yesterday can be chalked up as a victory for the bulls, having seen the price consolidate above the lows of Monday’s session, near 6100. However, today they need to push on beyond resistance at 6180, where gains have petered out for the past two days.
A breakout from here would then target 6280 and potentially as far as 6400. Momentum indicators such as stochastics remain bullish, but for the time being a real dip that would provide a definitively attractive entry has yet to appear. A close below 6100 would be needed to negate the bullish outlook for the FTSE.