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FTSE 100 - has consolidation come to an end?
Another Friday, and another bounce in the FTSE 100. For the third time in two months the price has tested the water below 7400 and has bounced once again. Resistance lies around 7550 and then at 7600.
The three bounces from 7400 suggest that plenty of buying is coming in to push the market higher, so we may have seen the consolidation come to an end. The more bullish outlook is maintained unless we see a daily close below 7400.