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FTSE 100 rally finds new lift
A new record high for FTSE 100 was posted early in the session, and with momentum so strong we have to look to lower time frames for potential entries.
The 50-hour simple moving average (SMA), of 7718, has provided support over the past two days, so this could provide an area for entries. While the deeper pullback to the 100-hour SMA on Monday could be another example of what to look out for. Below 7705, the 7690 and 7650 areas could be places where support may materialise.