FTSE 100 needs to push above 7550
The FTSE rallied sharply on Friday, but we now need to see if it can push on above that session’s highs at 7550. Above here the next stop would be 7600 and the all-time highs.
A drop back to 7400 would raise the risk of a test of the 50-day simple moving average (SMA) at 7377, even though we saw that on Thursday night/Friday morning and buyers came in to defend it. Below 7370, the index could test 7260 then 7090.