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FTSE dips should be bought
Although the index has dropped back from the highs of yesterday’s session, it remains above the 14/15 April highs around 6375. If the index can hold these then another push on through to fresh highs for the year and the 6440 level looks possible.
Dips should continue to be bought throughout April and May, as the usual seasonality effects kick in. Bears are unlikely to get much traction unless they can get the price back below 6320. Even then, if the dip does not move below Monday’s lows then it remains within the sequence of higher highs/higher lows which characterise an uptrend.