FTSE uptrend coming into big resistance
The FTSE has been trending higher over recent weeks, with the overnight pullback turning higher from the 50% retracement. However, it is worth noting that we have moved into a crucial resistance area, with the January high of 7359 accompanied by a descending trendline. We must see the index overcome these hurdles for this uptrend to continue.
As such, while the recent uptrend remains intact, a convincing break above 7359 or below 7282 would lead the bias for this market.