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FTSE may push up after the ECB meeting
Despite a late push yesterday towards 7300 the FTSE continues to bump along just above 7250, with no sign yet that more buying momentum is coming through. This may change after the European Central Bank (ECB) meeting, so we wait to see if the index can push above 7300 towards 7360.
A drop below 7250 would first target 7194, the low way back on 24 February, and then down to 7090. A loss of momentum on the daily chart would suggest that we will see a continuation of the steady pullback from mid-March, with the spike higher yesterday marking the latest lower high.