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No sign of a FTSE 100 rally
7260 marked the limit of the FTSE’s rally yesterday, with the index hitting new 10-day lows during Thursday. An overnight consolidation has seen resistance at 7220 tested, but so far there is little sign of a rally developing.
Support is possible at 7181 and then 7157, with a bigger drop potentially taking the price on to 7000. A rally needs to clear 7260 and then move on above 7320.