FTSE off to a flier
The FTSE 100 has punched through a crucial resistance level at 6950, with subsequent support being used as a base to then push higher this morning. With price now just 73 points away from all-time highs (7127), it seems likely we will see the index push into new territory this week.
As such, the current bullish momentum is expected to continue, yet its new order may make more sense within retracements or continuation patterns as it allows a better placement of stops. With that in mind, a bullish outlook remains unless we break below the most recent swing low. On this occasion that is 6956.