FTSE 100 rallying back into trendline resistance
The FTSE 100 is moving higher once again with the price briefly falling below the 7505 support level. The index has been pulling back since the turn of the week, following a move into the range top around 7558. There is a good chance that the range will continue with the price moving back into the 7558 level.
For confirmation, look for a break through trendline and horizontal (7543) resistance. To the downside, we need to see the price fall below 7484 to point towards a wider sell-off for this market.