FTSE 100 rises towards range top once again
The FTSE 100 is rising towards the top end of its range once again, with the index having respected the 200-simple moving average (SMA), 4 hour, on a number of occasions.
With a resistance zone between the 7706 level and an ascending trendline, there is a good chance we could turn lower yet again before long. That being said, with the index failing to return to the bottom of the range, there is a growing chance that we could see a bullish breakout before long. Until that happens, this range remains relevant.