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FTSE election-sensitive but still bullish
Bulls continue to hold the FTSE above the 7500 level, with the post-April trendline also coming into play. In case a bigger move lower starts, then 7450, 7408 and 7360 all stand as support lines.
With the election now almost upon us, we may see a further sideways drift until the result becomes known, but it would need a move below the 50-day simple moving average (SMA) at 7370 to really put a dent in the bullish trend.