FTSE 100 needs to keep the momentum going
As noted on Friday, the bulls have managed to hold the FTSE above 7260, but now need to clear the 7363 area to maintain momentum. Friday saw them post a strong rebound, but upward strength is fizzling out around the 7360 zone.
A close above 7363 clears the way back to 7400 and higher, and ends the drift lower. A failure to push on raises the prospect of a move to 7260, but only a break through there moves the outlook from consolidation to correction.