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FTSE breaks through resistance in search for new highs
Yesterday saw the FTSE 100 break through the key 7359 resistance zone, in a breakout which followed the inability to complete a bearish head and shoulders formation last week.
The top of yesterday’s trade came around trendline resistance and the left shoulder high. However, we look set to challenge that 7400 region once more this morning, Given the current creation of higher highs and higher lows, a bullish outlook is in play unless we see a break back below 7331.