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FTSE 100 rallies after OPEC deal
Yesterday's deal to cut production among OPEC members provided the FTSE with a boost, bringing price back into a major resistance zone. This zone, consisting of the three market tops over the past two months, spans from 6932 to 6955.
Given the previous reversals at this region, the reaction from here will be key. As such, a break and hourly close above 6955 would provide us with a bullish continuation signal. An alternation — watch out on the intraday charts for a potential reversal lower.