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FTSE pulls back from record highs
The FTSE has pulled back following a rally towards the 7127 all-time high. This morning’s high largely matched the high of yesterday, which, given the proximity to the 7127 mark, provides a warning sign that we could turn lower.
However, for now the uptrend remains intact and unless we break below 7091, a bullish outlook remains in play. That said, perhaps it is prudent to await a break and closed candle above 7127 to gain confidence that a breakout is occurring.