FTSE consolidation continues
The FTSE 100 touched and rejected Friday’s high of 6932 this morning, with the index remaining within a period of sideways consolidation. There is a clear uptrend in play here and as such, the expectation is for a bullish breakout.
The index is currently attempting to make that move now. A breakout would be signaled by an hourly close above 6932. Should that occur today, we would be looking towards 6950 as the next key resistance level of note.