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FTSE 100 back on the up track
The FTSE has pushed above the rising trendline off the February lows, having held 7260 at the beginning of this week. Now there is only another 80 points or so until a fresh all-time high.
If the price falters around 7370 then a new lower high will be created, but bears will still need to smash through 7260 to suggest that they are in control. A short-term rising trend can be seen from the lows of Monday and then intersecting with yesterday’s low around 7280. Thus we could see a pullback towards 7330 that would give us another buying opportunity.