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Will FTSE support hold?
The FTSE managed to bounce from the crucial 7130 support level yesterday, with price rallying into the 7176 level time and time again. We would need to see price break from this current decision zone for a signal of the next move. That means an hourly close below 7130 would provide a bearing continuation signal.
Conversely, an hourly close above 7176 would point towards a rally into the 7200 region. We would subsequently require a break through 7222 to signal an end to the recent downtrend.