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FTSE 100 remains rangebound
The Monday open has failed to build on the gains from the end of last week, with the index stuck in the purgatory between the 100-day and 200-day simple moving averages (SMA), roughly 6060 to 6160. Until we have a breakout from one of these levels, traders will be content to play the range.
It remains to be seen how long daily stochastics can remain bullish with this rangebound trading. For now, the choppy period looks set to continue.